White-collar hiring in Oil & Gas, Real Estate, and Pharma Sectors see positive result
Whereas there was a decline of 31% job creation in the IT industry as compared to June last year
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Hyderabad: White-collar hiring in India continued to consolidate as per the Naukri JobSpeak Index, one of most accurate measures of hiring in India based on approximately 10 lakh jobs per month, stood at 2795 in June 2023. While the number of white collar jobs in the Tech sector and Metros declined, the number of jobs in the real estate and energy sectors, especially in non-metros, mitigated this decline to yield an overall flat job market.
The IT industry hiring continued to remain an area of concern, with a 31 per cent decline in new jobs created compared to June last year. The decline in hiring was prominent across all types of IT companies, including global tech giants, large IT services companies, tech-focused startups, and unicorns. Hiring dipped across all Metros and Non-Metros, with IT-dependent metro cities like Bangalore, Hyderabad, Chennai, and Pune being hardest hit. While traditional roles such as Software Developers and System Analysts continued to witness a downturn, niche roles such as Cybersecurity Analysts and AI Specialists showed positive hiring trends, bucking the negative trend across most other tech roles. Besides IT, sectors such as Retail, BPO, Education, FMCG, and Insurance also showed cautious hiring sentiments with a dip of 23 per cent, 17 per cent, 9per cent and 7 per cent respectively, in hiring trends compared to June last year.
Diversification of white-collar jobs to non-metro cities continued apace. Ahmedabad topped the list with an unprecedented 23 per cent growth in employment compared to June last year, followed by Vadodara with 14 per cent growth, while Jaipur continued to hold steady. Auto, construction, and pharma sectors played a significant role in driving this hiring spree across Non-Metros.
On the other hand, hiring activity continued to dip across large IT-driven metros, except Mumbai, which held steady compared to June 2022, primarily driven by the Oil &Gas and Hospitality sector. Despite a minor dip of 5 per cent in overall white-collar hiring trends, Delhi NCR witnessed an employment surge in Healthcare and Electrical switchgear sectors.
Pawan Goyal, Chief Business Officer of Naukri.com, said “The white collar job market of India is witnessing a structural shift. For a long time, jobs in the tech sector and in top metros were the key drivers of white collar job growth. Of late, jobs in the emerging sectors such as real estate, oil and gas, pharma and BFSI have emerged as significant contributors to job growth”.
