New Delhi: In a significant uptick for India’s employment landscape, the Oil & Gas sector has recorded a 24% growth in hiring in October 2023, compared to the same month in the previous year, as per the latest Naukri JobSpeak Index.
The index, considered an authoritative measure of white-collar hiring in the country, marked a marginal rise to 2484 in October 2023 from 2455 in October 2022. The boost in hiring was particularly prominent in cities such as Ahmedabad, Delhi NCR, and Pune, with senior roles like Maintenance Engineer and Industrial Engineer, especially for those with over 16 years of experience, seeing heightened demand.
Following closely, the pharma/biotech sector also showcased a robust growth, registering a 19% increase in new job positions, largely propelled by the booming Pharma R&D activities. Cities like Vadodara, Ahmedabad, and Coimbatore emerged as key hiring centers.
The banking and financial services realm was not far behind, marking a 13% rise in job opportunities year-on-year. This surge was attributed to the expansion efforts of major and small-finance banks. Within this sector, NBFC and Fintech/Payments jobs observed significant growth, witnessing a 40% and 27% increase, respectively.
Contrastingly, the IT sector depicted a downward trend with a hiring contraction of 14% over the previous year. Notably, specific roles like Full Stack Data Scientist and Automation Engineer within the IT bracket saw remarkable demand growth.
On the geographical front, while Delhi NCR and Mumbai saw an increase in job offers by 5% and 4%, IT-centric cities, including Bangalore and Hyderabad, registered a decline in the range of 6-11%. Emerging job hubs such as Vadodara and Ahmedabad marked positive trends, with a 37% and 22% rise in job offers, respectively.
Pawan Goyal, Chief Business Officer of Naukri.com, commented on the findings, “Positive job growth numbers across a wide range of sectors excluding IT continue to augur well for the diversification of the job market to non-IT sectors of India. The reported job growth numbers are however also benefiting from the low base effect of last year’s festival season in October and may moderate in the coming month.”
It’s pertinent to note that the Naukri JobSpeak Index reflects the state of white-collar job market and hiring activities, drawing data from job listings and recruiter searches on its platform.
