A recent report reveals that active recruitment in non-tech industries, including Real Estate and BFSI (Banking, Financial Services, and Insurance), helped offset the decline in IT sector hiring in April 2023. The report was released on Monday.
Naukri JobSpeak's data shows that the real estate industry led the way among non-tech sectors, experiencing a 21% increase in hiring compared to April 2022.
The growth in the real estate industry's hiring was primarily attributed to the rise in new residential and commercial property launches across major cities, resulting in the recruitment of key positions such as Tender Manager, Construction Engineer, and Civil Engineer.
Pawan Goyal of Naukri.com stated that Real Estate, BFSI, and Oil & Gas were the top sectors driving hiring growth in April, with IT-focused cities showing a more restrained sentiment. Emerging cities like Ahmedabad and Vadodara, on the other hand, displayed robust hiring trends.
In terms of large metropolitan areas, Kolkata, Pune, and Hyderabad experienced a significant increase in hiring for the real estate sector, with recruitment surges of 28%, 22%, and 19%, respectively.
Apart from the real estate industry, the sectors that saw the highest growth in hiring activity were the oil and gas industry, which experienced a 20% increase, followed by the insurance sector with 13% growth, and the banking sector with 11% growth compared to the same period in the previous year.
The automotive and pharmaceutical industries saw a more modest increase in hiring activity, with recruitment rising by 4% and 3%, respectively.
According to the report, the IT industry continued to experience a downward trend, with hiring activity decreasing by 27% compared to April of the previous year.
Apart from the IT industry, other sectors such as BPO, EdTech, and Retail also recorded declines in hiring activity, with drops of 18%, 21%, and 23%, respectively.
In non-metropolitan cities, Ahmedabad emerged as a leader in hiring trends, with a 28% increase in new job creation compared to the previous year. Following closely behind were Vadodara and Jaipur, with increases of 14% and 9% in new job creation, respectively.
According to the report, the banking, automotive, and insurance sectors have played a significant role in the hiring activity observed in non-metropolitan cities. Real estate and oil & gas were the other sectors that exhibited positive hiring sentiment in these areas.
The report also indicated that the demand for senior professionals with over 16 years of experience increased by 30% compared to April 2022, while the demand for those with 13-16 years of experience rose by 20%.
In contrast, the demand for fresh graduates and professionals with four to seven years of experience has decreased compared to April 2022.
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