Hiring at all-time high crossing pre-COVID levels; grows 11% serially in July: Report humanresources.vision

Hiring at all-time high crossing pre-COVID levels; grows 11% serially in July: Report

Employment in the country peaked in July, with a subsequent rise of 11%, signaling a strong recovery in economic growth and a business recovery from the impact of COVID-19, according to a report Friday.

With 2,625 jobs, the employee trend increased 11% in July, compared to 2,359 jobs in June, the highest on record, including pre-COVID-19 history, the report said.

The Indian job market grew steadily for the second month in a row, up 15% in June, following the pandemic-related slump of April and May, he said.

Naukri JobSpeak is a monthly index that calculates and records monthly rental activity based on Naukri.com mailing lists.

As companies continue the wave of digitization, the software or IT software services industry has maintained its pace of growth, according to the report, an increase of 18% in July compared to June.

Almost all sectors showed positive growth in July, contributing to the 11% growth in hiring jobs, leaving job seekers out, the report said.

Sectors hit hard by movement restrictions during the pandemic showed employee growth for the second month in a row, including hotels, restaurants, airlines, and travel (36 percent) as well as retail (17 percent).

Accounting and taxes at 27 percent, FMCG (17 percent), banking and finance (13 percent), and education and training (8 percent) had positive sequential increases in rental activity over the same period.

Pharmaceuticals, biotechnology, and clinical research saw a marginal job decline of 5%, while media, dot-com, and entertainment sectors fell 15% in July.

Pawan Goyal, Commercial Director at Naukri.com, said: “July provided convincing evidence of the resumption of rental activity in the country, after a drop in April and May, the index reached levels before COVID-19 ended this month.”

He added that the most dramatic and steady growth in recent months was due to the IT and information technology (IT) and functional technology sectors, which remained relatively insulated from the effects of the pandemic.

This shows that the digital transformation of Indian companies is well underway and critical to post-pandemic recovery efforts, he said.

Appointments in marketing, advertising, MR, and RP also increased (4%), while pharmaceutical and biotech positions showed a marginal decline of 3% in July compared with June, he adds.

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