The real estate sector led non-technology industries, seeing a 21 per cent rise in hiring compared to April 2022
Published Date – 1st May 2023, 07:23 PM
New Delhi: Active hiring in non-tech sectors such as real estate and BFSI (banking, financial services and insurance) in India has offset the decline in hiring in the IT sector in April 2023, a new report released on Monday showed.
According to data from Naukri JobSpeak, the real estate sector led non-technology industries, witnessing a 21 per cent growth in hiring compared to April 2022.
This growth was primarily driven by an increase in the launch of new residential and commercial properties in metropolitan areas, boosting hiring in key roles such as tender managers, construction engineers and civil engineers.
Pawan Goyal, Chief Business Officer, Naukri.com, said, “The growth in hiring activity in April was dominated by a few key sectors such as real estate, BFSI and oil & gas. While hiring remained cautious in IT-centric metros, emerging cities like Ahmedabad and Vadodara continued to shine.”
Among the major metros, Kolkata, Pune and Hyderabad witnessed a growth of 28 per cent, 22 per cent and 19 per cent, respectively, in hiring in the real estate sector.
Apart from real estate, the sectors with the highest growth in hiring activity were the oil and gas sector, which grew by 20 per cent, the insurance sector, which grew by 13 per cent, and the banking sector, which grew by 11 per cent compared to the same month last year.
Hiring in the automotive and pharmaceutical industries grew by 4 per cent and 3 per cent, respectively.
Further, the report said that hiring in the IT industry continues to remain subdued and hiring activity has declined by 27 per cent compared to April last year.
Apart from IT, sectors like BPO, EdTech and Retail also witnessed a decline of 18 per cent, 21 per cent and 23 per cent, respectively.
Among non-metro cities, Ahmedabad led the hiring trend with a 28 per cent rise in new job creation over last year, followed by Vadodara and Jaipur with 14 per cent and 9 per cent growth, respectively.
Banking, auto and insurance sectors primarily contributed to the hiring activity seen in non-metro cities. Real estate and oil and gas are other sectors that saw positive hiring sentiment in non-metro cities, the report said.
Further, the report mentions that the demand for senior professionals with more than 16 years of experience has grown by 30 per cent as compared to April 2022, while the demand for 13-16 years of experience has grown by 20 per cent.
However, there has been a decline in the demand for fresh graduates and professionals with four-seven years of experience as compared to April 2022.