Hiring activity shows 12% increase in July: Naukri JobSpeak Index
White-collar hiring activity grew to 2877 points in July 2024, registering a 12% YoYincrease vs July 2023 and an 11% MoM sequential increase compared to June 2024, the latest edition the Naukri JobSpeak Index has revealed.
Most sectors reported healthy double-digit growths, with Pharma/Biotech (26%), FMCG (26%), Real Estate (23%), and AI/ML (47%) leading the pack. However, some of the uptick could be attributed to an impacted base of July’23, which saw an atypical dip in Index value on account of the IT sector’s woes, a statement from the company said.
The Pharma/Biotech sector recorded a substantial 26% YoY increase, with Baroda (61%) and Hyderabad (39%) driving the surge. Key roles within Pharma like Sales & Business Development and Procurement & Supply Chain saw a 42% rise in hiring. Similarly, hiring in FMCG sector grew by 26%, led by Bangalore (52%) and Kolkata (43%), with Marketing and Communication roles in FMCG experiencing a 57% increase. The Real Estate sector also demonstrated a strong 23% growth in hiring, largely influenced by Delhi-NCR (+51%) and Hyderabad (+28%).
The IT sector experienced a healthy 17% growth in July’24 as compared to July’23. Meanwhile, the AI-ML sector continued its strong showing with a 47% YoY increase. Kolkata (38%) and Pune (30%) were significant contributors to this expansion, highlighting the rising demand for AI-ML. Among the roles seeing the highest growth in hiring were Machine Learning Engineers, Data Scientists, BI Managers, and Product Managers.
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