Non-IT sectors surge in job growth

Naukri JobSpeak Index for October-November 2023, reflecting white-collar hiring in India, reached 2433, showing a 12% decline compared to the same period in 2022. Notably, the report highlights the stabilization of IT hiring activity over the last six months, although at a lower baseline than in 2022. On the other hand, key non-IT sectors experienced growth during this period. Positive momentum was observed in sectors such as Oil & Gas (9% growth), Pharma (6% increase), and Insurance (5% growth).

In the Oil & Gas sector, roles like Machine Operator/Machinist, Instrumentation Engineer, and Maintenance Head saw substantial demand, growing by 39%, 25%, and 7% respectively. The Pharma sector witnessed a 6% rise in new job offers, with high demand for roles such as Lab Technician, Clinical Assistant, and Store Keeper. Insurance sector hiring grew by 5%, with roles like Branch Sales Executive, Area Sales Manager, and Branch Sales Manager experiencing growth of 16%, 12%, and 17%.

Contrastingly, the IT sector faced a slowdown in hiring, registering a 22% decline in overall hiring compared to the 2022 base. However, despite substantial corrections in the first half of 2023, the sector reported a 1% growth in November over October 2023. AI-related fields like Machine Learning Engineer and Full Stack Data Scientist saw increased job openings.

Non-metros outperformed metros in hiring, with Vadodara showing a 9% growth in new job offers, while Ahmedabad remained flat. Metros like Delhi NCR and Mumbai experienced negative growth of 12%, and IT-focused cities like Bangalore, Hyderabad, Chennai, and Pune recorded negative growth ranging from 18% to 21%.

Organizations continued to prioritize senior professionals in hiring, with a significant 26% growth for those with more than 16 years of experience. Professionals with 13-16 years of experience saw a 6% increase in new job offers, while those with 8-12 years and 4-7 years experienced declines of 6% and 22%, respectively. Freshers recorded negative growth of 13% in new job offers during the two-month period. Pawan Goyal, Chief Business Officer at Naukri.com, finds the growth in core non-IT sectors encouraging and sees the 1% growth in IT as a positive sign.

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