White collar hiring in India fell 6 percent this August compared to the year-ago period, due to cautious sentiment in IT, insurance, auto, healthcare and BPO sectors.
According to data by job portal Naukri, in August, 2023, there were 2,666 job postings, against 2,828 job postings in August, 2022. On a sequential basis, hiring went up by 4 percent in August 2023, compared to 2,573 job postings in July, 2023, according to the Naukri JobSpeak Index.
The new jobs created in the IT industry amounted to 33 percent lower against the high base value in August last year. Besides IT, sectors such as insurance, auto, healthcare, and BPO, also showed cautious hiring sentiments with a dip of 19 percent, 14 percent, 12 percent, and 10 percent, respectively, in new job creation compared to August last year, the report stated.
While the tech sector is still struggling in the job market, hiring in non-tech sector is flourishing. As per the report, the highest growth in new jobs was seen in the oil and gas, hospitality and pharma sectors, where recruitment grew by 17 percent, 14 percent and 12 percent, respectively, compared to August last year.
What are the job roles that are in demand?
In the oil and gas sector, job growth was the highest in the cities of Ahmedabad, Mumbai, Chennai, and Hyderabad. Further, professionals with over 16 years of experience remained the most sought-after candidates.
In the hospitality sector, demand for roles such as restaurant managers, guest services, and facility managers have been seeing a surge, predominantly across metros such as Mumbai and Chennai. Mid-senior professionals, with 8-12 years’ experience, were most in demand in this sector.
Meanwhile, in the pharma sector — driven by a renewed focus on R&D — the roles in highest demand include clinical research scientists, product managers (pharma), and QC/lab chemists. The pharma hiring spree is particularly strong in cities like Ahmedabad and Chennai. Just like oil and gas and hospitality, the pharma sector is witnessing the highest demand for mid- to senior-level professionals where jobs for 13-16 years and 16-plus years increased by 16 percent and 38 percent, respectively, stated the report.
In the real estate sector, construction supervisor, civil engineer, and architect were the most sought-after profiles in cities like Mumbai and Chennai. Demand is once again highest for mid- to senior-level professionals compared to August last year.
Although the IT sector is struggling in terms of job demand, but artificial intelligence job roles are on a constant high. Hiring for AI related roles such as full-stack AI scientists and ML (machine learning) engineers increased by 24 percent and 37 percent, respectively, compared to the beginning of the year. Overall hiring in the IT sector increased by 3 percent compared to July 2023, even though it is still 33 percent less compared to August last year, stated the report.
Mini metros continue to emerge as hiring havens
The report added that the ‘mini metros’ are swiftly stepping into the limelight, with Vadodara leading the brigade— showcasing a 19 percent growth in new job creation. It is trailed closely by Ahmedabad and Jaipur, with 8 percent and 5 percent growth in new job creation, respectively, in August 2023 compared to the year-ago period. Oil and gas and pharma have been pivotal sectors in driving new job creation in these emerging cities.
