Education, Real Estate, BFSI show sequential growth in hiring in January: Naukri JobSpeak

Naukri.com, an online job site, has published its recent Naukri JobSpeak study that revealed the hiring activity has been seeing sequential growth in the past few months as companies try to spring back to normal.

The report noted that the Education/Teaching domain sector saw an 11 per cent increase in hiring in January 2021 Vs December 2020 as colleges and schools are set to re-open in the post-Covid Era.

The Insurance sector (8 per cent) also registered growth in sequential hiring as the demand for health insurance spiked amidst the pandemic.

Other key sectors including Real Estate (13 per cent), Retail (7 per cent), BFSI (5 per cent) and BPO/ITES (3 per cent) too have shown signs of growth in M-O-M hiring last month.

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Sectors such as Auto/Ancillary (-14 per cent) and Telecom (-8 per cent) are still experiencing a slowdown in growth as the country gradually returns to normalcy.

At an overall level, the Naukri JobSpeak Index for January 21, at 1,925, remained flat (-2 per cent) in hiring activity as compared to December 20, at 1,972. Additionally, at a Y-O-Y level, the overall hiring showed a decline of 19 per cent in January 2021, with Pharma/Biotech (-9 per cent) and IT-Software (-11 per cent) sectors remain least impacted.

Referring to the report, Pawan Goyal, Chief Business Officer, Naukri.com said in an official statement: “While overall hiring is down by 19 per cent at a Y-O-Y level in January 2021, it is interesting to see sectors like Education, BFSI and Real Estate show growth in hiring sequentially.”

He added: “Emerging cities led by Vadodara and Chandigarh are driving hiring and have outperformed metros as they record a better recovery at an M-O-M level.”