White collar employment increased 4% in December, syas report

• ByStartupStory     |    January 12, 2023

According to a survey, employment activity among white collar professionals increased by 4% in December 2022 when compared to the same month the year before. According to Naukri JobSpeak, there has been a 4% increase in job listings, with 2,890 white collar job postings in December 2022 compared to 2,770 in the same month in 2021. 

Based on fresh job ads as well as job-related searches made by recruiters on Naukri.com’s resume database, the Naukri JobSpeak is a monthly index that represents the condition of the Indian job market and hiring activity.

According to the survey, with the exception of a few important sectors, the momentum that was created at the start of 2022 continued into the second half of this year. The first half of 2022 (January to June) and December 2022 were compared sector by sector, and the results showed a mixed trend. 

The decline in IT and BPO has been countered by growth in non-metro cities and sectors driven by the domestic economy, resulting in sequential stability overall, it noted. 

Multiple sectors experienced stable growth in December 2021 compared to December 2022, but the mix changed in the second half of 2022, with sectors driven by the domestic economy posting large growths.

According to the research, the insurance sector experienced a strong 51% increase in employment activity in December 2022 when compared to the first half of 2022. 

Other industries with an upward tendency compared to the first half of 2022 are oil (33%), finance (24%), real estate (21%), and auto (21%). (12 per cent). 

However, compared to the first half of the year, the IT and BPO sectors connected to international markets decreased by 19% and 9%, respectively, in December, with startup hiring being most negatively impacted, it was reported. 

Ahmedabad headed the list of non-metros with a growth of 39%, followed by Vadodara and Jaipur with growths of 29% and 16%, respectively.

Compared to the monthly average of the first half of the year, recruiting activity increased by 12% in Delhi/NCR and Mumbai, two of the biggest metro areas. 

A similar pattern was seen in Kolkata as well, where the number of new employment produced increased by 3%, according to the research. 

Chennai, Pune, Hyderabad, and Bengaluru, which are heavily dependent on the IT sector, on the other hand, saw declines of 4%, 7%, 11%, and 15%, respectively, it added.

Naukri.com Chief Business Officer Pawan Goyal said, “The Indian job market exhibited favorable hiring activity in 2022, with a 20 per cent increase in new job creation compared to the full year base of 2021. However, we do witness a correction in key sectors like IT and BPO towards the latter half of the year currently being offset by hiring activity uptick in non-IT sectors like insurance, banking and real estate. This reaffirms the multi-sectoral and balanced footprint of the Indian white-collar job market. As we enter 2023, the positive trends observed in non-IT sectors and smaller cities keep us watchful yet optimistic with respect to 2023.” 

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