Job market bounces back in June as Covid-19 unlocking begins, salary hikes expected
The Naukri JobSpeak Hiring report revealed that recruitment process grew 15% in June with 2,359 job postings as compared to 2,047 in May
Hiring activity in June rose around 15-20%month-on-month, and almost doubled compared to 2020, with technology, healthcare and pharmaceutical sectors accelerating the growth, as the Covid-19 pandemic ravaged economy bounces back to normalcy, according to a report.
After a 15% fall in April and flattening out in May, mainly due to the lockdown amid Covid-19 pandemic, hiring sentiments boosted in June following the phased unlocking across states, said a report by online job portal Naukri.com.
According to the recently released latest Naukri JobSpeak Hiring report, the recruitment process grew 15% in June with 2,359 job postings as compared to 2,047 in May.
Another report by staffing firm Xpheno, a 32% rise in hiring was noticed in June over May 2021. “With over 2,70,000 active white-collar jobs, June has emerged as the second top month for 2021 after 2,90,000 openings in March,” the firm said.
On the other hand, the worst affected sectors — those involving human contact — like travel/hospitality and conventional retail are recovering. According to another job portal Indeed India, however, travel/hospitality and beauty/wellness sectors are down around 52% and 60%, respectively.
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According to Xpheno, the IT services sector led the growth in active job openings in June with a 37% growth over May.
“The technology sector posted a maximum 81% of the jobs in June because of huge demand in the industry due to rising digitisation,” Kamal Karanth, founder of Xpheno, told The Times of India.
According to the Naukri.com’s report, the IT and IT services sector grew 5% in June as compared to the previous month. It achieved an all-time high growth of 52% compared to pre-Covid levels in June 2019, riding high on demand in IT and IT services to overcome business challenges amid the pandemic. On a Year-on-Year basis, hiring in the technology sector grew 163% in June.
According to TimesJobs’ monthly RecruiteX index, the healthcare and pharmaceutical sectors posted maximum talent demand. It is obvious as the industry needs to ramp up resources ahead of a probable third wave of the coronavirus pandemic. These witnessed a maximum growth of 18% in June compared to May.
Manufacturing, telecom, BFSI, and petrochemicals are other gainers. In the insurance sector, hiring picked up by 87% YoY, 74% in banking/financial services, and 38% in pharma/biotech sectors, the Naukri.com data showed.