Jobs: Job Market Revival Witnesses 21% Year-on-Year Growth
New skills such as Machine Learning and Big Data can help in a plethora of jobs
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Job market revival marks a 21 percent rise in hiring activity in comparison to April 2017. The rise is on the back of 11 percent slump in hiring activity experienced in April 2017 due to the impact of macroeconomic factors on the job market.
The positive hiring sentiment ran across key cities where Chennai, Delhi, Bangalore, and Mumbai saw 25 percent, 24 percent, 17 percent and 17 percent growth in hiring respectively. Similarly, major industries which witnessed double digit growth in their hiring activity for the month of April 2018 as compared to April 2017 are - Auto with 44 percent growth; Construction and Engineering (34 percent), Banking and Financial Services (29 percent) and IT industry registering 20 percent growth.
The auto sector has been hiring at a steady pace and hiring activities here showed the most growth of 31 percent in May this year. In construction and engineering the jump was 21 percent, while pharma and telecom reported growths of 18 percent and 25 percent individually.
Two other industries that threw up an impressive number of job opportunities were the fast-moving consumer goods (FMCG sector) at 21 per cent and the Business Process Outsourcing (BPO) industry at 18 percent.
The Naukri Job speak Index indicates a 6 percent rise in the demand of entry level job seekers in April 2018 when compared to April 2017. Hiring for Mid management roles (4-7 years) and senior management roles (16+ years) increased by 4 percent and 2 percent respectively in April 2018 when compared with April 2017.
Also, hiring for management roles with experience band of 8-12 years and 13-16 years witnessed a dip of 1 percent and 6 percent respectively in the year-on-year analysis.