India's White-Collar Hiring Market Sees 6% Year-on-Year Growth
According to a recent report, India's white-collar hiring market has recorded a 6% year-on-year growth as of April this fiscal year, primarily driven by significant contributions from the insurance, BPO/ITeS, and real estate sectors.
Detailed Sector Breakdown
- Insurance: Boasting a remarkable 21% growth, the insurance sector has emerged as a leader in this trend.
- BPO/ITeS: With a growth of 15%, the BPO/ITeS sector has also shown substantial improvement.
- Real Estate: Reporting a 12% growth, the real estate sector has demonstrated resilience in the hiring market.
Sectors Experiencing Decline
Sectors such as telecom and banking have been on a four-month decline, with a dip of 11% and 10%, respectively, in April.
- Telecom: A 11% decline has been observed in the telecom sector.
- Banking: The banking sector also saw a 10% decline in April.
Regional Job Market Activity
- Southern Metros: Cities such as Hyderabad, Bengaluru, and Chennai are leading the growth trajectory.
- Cities Beyond Metros: Jaipur, Coimbatore, and Ahmedabad demonstrate robust hiring momentum.
Hitesh Oberoi, MD and CEO of Naukri.com, attributes this market resilience to structural demand and increased consumer activity.