White-Collar Hiring Sees 8.6% Decline in Sept: Report

• ByStartupStory     |    October 9, 2023

The white-collar job market in India experienced an 8.6% year-on-year decline in September, particularly affected by negative trends in sectors like IT, BPO or ITES, and FMCG, according to a report released on Monday. However, there was a 6% month-on-month growth in job postings.

In September, there were 2,835 white-collar job postings, a decrease from 3,103 jobs in the same month last year, as per Naukri.com’s monthly ‘Naukri JobSpeak Index.’ This index offers insights into the Indian job market based on new job listings and job-related searches by recruiters on Naukri.com.

Sectors like BPO/ITES and FMCG faced significant declines of 25% and 23%, respectively, in September 2023 compared to the same period last year. The IT sector, which has been navigating global challenges, continued to witness reduced hiring numbers. However, certain roles such as Big Data Testing Engineer, IT, Information Security, and IT Operations Manager remained in high demand.

Pawan Goyal, Chief Business Officer at Naukri.com, commented, “While the IT sector continues to stay impacted, robust growth in the banking sector is a bright spot. Coupled with the fact that the overall index sequentially grew 6 per cent, this underscores the resilience of the Indian job market, anchored in sectoral diversity.”

On the other hand, the hospitality and travel industry experienced significant growth, particularly driven by families and solo travelers taking advantage of the monsoon season. Mumbai saw the highest number of job offers in this sector, with roles like restaurant manager and guest services in high demand.

The banking, financial services, and insurance (BFSI) sectors each saw a 7% yearly growth in September, with roles like branch manager and financial consultant being the most sought after. Similarly, the oil and gas and auto sectors recorded 6% growth each in September compared to the same month last year.

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Interestingly, the report highlighted that non-metro cities outperformed metros in terms of job creation in September 2023. Cities like Vadodara, Ahmedabad, and Jaipur witnessed 4%, 3%, and 2% growth, respectively, in hiring compared to September the previous year.

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