White-collar hiring in India drops 7.62% in June – Naukri report
MUMBAI, INDIA — White-collar hiring activity in India declined 7.62% in June, according to the latest Naukri JobSpeak Index.
The report highlighted that the number of job postings fell to 2,582 from 2,795 in the same month last year, reflecting a challenging job market across various sectors.
The business process outsourcing (BPO) and IT-enabled services (ITES) sector saw a significant 9% drop in hiring, contributing to the overall decline. This sector, which has traditionally been a major employment generator, faced a slowdown, mirroring broader trends in the white-collar job market.
Mixed results from various sectors
The report detailed varying performances across different sectors. While some sectors experienced a downturn, others showed resilience and growth:
- Telecom declined by 12%
- BPO/ITES declined by 9%
- Education and Teaching declined by 9%
- Global Capability Centres declined by 7%
Conversely, certain sectors demonstrated positive hiring trends:
- Insurance increased by 28%
- FMCG/Food Industry increased by 12%
- Pharmaceutical increased by 6%
Regional disparities in hiring trends
The report also underscored regional disparities in hiring trends. Cities in Rajasthan and Gujarat showed remarkable resilience and growth in job creation. Jodhpur led with a 36% increase, followed by Kota (21%), Udaipur (13%), Rajkot (35%), Surat (13%), and Jamnagar (13%).
In contrast, major metropolitan cities like Bengaluru and Mumbai saw declines of 9% and 6%, respectively. This shift indicates a growing trend where smaller cities are outpacing larger metros in job creation.
“As we’ve reported over the past year, the power dynamic shift in the Indian hiring landscape is well and truly underway with mini metros consistently outpacing their metro counterparts,” said Pawan Goyal, Chief Business Officer at Naukri.com.
“Gujarat has been a silver lining in an otherwise turbulent market, and it’s now encouraging to see emerging cities in Rajasthan such as Jodhpur and Udaipur join the fray.”
The Naukri JobSpeak Index, a monthly indicator of the Indian job market, has revealed that while some sectors and regions are thriving, the overall white-collar hiring landscape remains challenging. The significant decline in BPO hiring underscores the need for strategic interventions to revitalize this crucial sector.
As the job market continues to evolve, stakeholders must adapt to these changing dynamics to foster growth and stability.
