Mumbai: Employment activity for the white-collar professionals segment in December 2022 showed an increase of 4% compared to the same month of the previous year, according to a report.
According to Naukri JobSpeak, the Naukri platform posted 2,890 white-collar job listings in December 2022, up 4% from 2,770 in the same month of 2021.
Naukri JobSpeak is a monthly index representing the state of the Indian job market and recruitment activity based on new job listings and job-related searches by recruiters in Naukri.com’s resume database.
The report goes on to say that the momentum generated at the beginning of 2022 has persisted into the second half of the year, with the exception of a few key sectors.
However, a sectoral analysis comparing December 2022 with the first half of 2022 (January-June) reveals mixed trends.
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Growth in the domestic economy-led sector and in non-megac cities is offsetting the slowdown seen in IT and BPO, providing continued stability at the aggregate level, he added.
Compared to December 2021, we saw steady growth across multiple sectors, but the composition changed in the second half of 2022, with domestic economy-led sectors registering strong growth.
The report showed a strong 51% growth in employment activity in the insurance sector in December 2022 compared to the first half of 2022.
Other sectors that have registered upward trends compared to the first half of 2022 include oil (33%), banking (24%), real estate (21%) and autos (12%).
However, the IT and BPO sectors, which are linked to global markets, were down 19% and 9% respectively in December from the first half, with start-up employment being the hardest hit.
Meanwhile, among non-metropolitan areas, Ahmedabad led the list with growth of 39%, followed by Vadodara at 29% and Jaipur at 16%.
Among the top-tier metros, Delhi/NCR and Mumbai saw a 12% increase in employment activity compared to the monthly average for the first half of the year.
A similar trend was observed in Kolkata, where new employment increased by 3%, the report reveals.
On the contrary, Chennai, Pune, Hyderabad and Bengaluru, which rely heavily on the IT sector, saw declines of 4%, 7%, 11% and 15% respectively, the report said.
“India’s job market has seen strong hiring activity in 2022, with a 20% increase in new job creation compared to the full year 2021 base. We are cautiously optimistic about 2023 given the non-IT sector and smaller cities,” said Naukri.com’s chief business officer. added Pawan Goyal.