Overall, hiring in India went down by 3 per cent on a year-on-year (y-o-y) basis in October, while a 1 per cent dip was recorded in e-recruitment activities compared to the previous month, according to Foundit (formerly Monster APAC & ME). 

Some of the sectors that have seen a decline in hiring include printing and packaging and agro-based industries witnessed a 25 per cent y-o-y decline. The printing and packaging sector is struggling due to amplified competition from digital media, diminishing the demand for traditional print items such as newspapers, magazines and catalogues, according to the report.  

Hiring percentages

“Certain sectors, such as imports and exports, are currently witnessing a decline in economic activity due to heightened geopolitical tensions. We anticipate that the situation will evolve in the coming months, ultimately leading to increased stability and growth, which will, in turn, create new job opportunities in the market,” said Sekhar Garisa, CEO of Foundit (previously Monster APAC & ME), a Quess company. 

In terms of cities, Pune, Chandigarh and Bangalore faced a decline in hiring percentages, dropping by 14 per cent, 13 per cent and 10 per cent, respectively. Other cities that reported a drop in hiring include Delhi/NCR (-1 per cent), Mumbai (-5 per cent), Coimbatore (-7 per cent), Hyderabad (-6 per cent) and Chennai (-3 per cent).  

While hiring has been muted, several sectors have shown good growth due to favourable economic policies and the revival of consumer spending. Sectors including travel, tourism and retail have seen a substantial increase in the number of jobs in 2023 compared to 2022. The shipping/marine and travel and tourism industries marked y-o-y growth of 44 per cent and 30 per cent, respectively. 

Furthermore, a notable 14 per cent y-o-y growth was seen in the Office Equipment/Automation sector, indicative of organisational shifts away from remote and hybrid work models and towards work from the office to improve operational efficiency.

“Oil/Gas/Petroleum, Power, BPO/ITES and Automotive/Ancillaries/Tyres, among other industries, demonstrated relatively stable and gradual growth amidst these trends, with y-o-y growths of 12 per cent, 6 per cent and 5 per cent, respectively.” 

In terms of cities, Kolkata recorded a 17 per cent y-o-y increase in hiring, potentially attributed to the festive season, which typically starts in October and lasts for several weeks. Beyond Kolkata, Baroda experienced an 11 per cent increase in job opportunities, followed by the upcoming Travel and Tourism Hub Ahmedabad, which observed a 7 per cent y-o-y hiring increase.

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