The Covid-19 pandemic brought India's economy to a halt over the past year and a half, with thousands losing their jobs and numerous companies shutting down. However, when the country is limping back towards normalcy, India's recruitment activity has been recovering steadily, especially in the IT sector, with companies seeing their best results.
According to Naukri's JobSpeak report, hiring activity came on a recovery path after the Covid-19 second wave, with a growth of 15 per cent in June 2021. The IT-Software and Software Services sector saw an increase of 5 per cent in June and achieved an all-time high growth of 52 per cent compared to the pre-Covid level in June 2019.
As for March 2021, there was a growth of 3 per cent in hiring compared to February 2021. This was led by the IT and Retail sectors that saw double-digit sequential growth in hiring in March this year.
"Hiring activity in metro cities and tier-II cities witnessed an average of 15 and 23 per cent growth respectively in June, indicating a stronger recovery in the latter," the report stated.
Speaking on the performance of the IT sector, Pawan Goyal, Chief Business Officer, Naukri.com said, "Hiring in this sector has seen a 5 per cent sequential month-on-month growth and more than 52 per cent increase from June 2019."
Hiring Trends Across Cities
As per the report, Pune and Hyderabad recorded a 10 per cent hiring rate, followed by Bangalore, where the uptrend was 4 per cent in the IT sector. The metropolitan cities like Delhi and Mumbai, which were severely affected during the second wave of Covid-19, recorded a 26 per cent and 24 per cent growth respectively. However, the best performers were the tier-II cities like Jaipur and Vadodra, registering a growth of 50 and 29 per cent, respectively.
LinkedIn India Labour Market Update
As per the LinkedIn India Labour Market Update for June 2021, the overall hiring rate in all sectors was around 42 per cent above the pre-Covid period in 2019, The New Indian Express reported.
However, during the peak of the second Covid wave, there was a deepening hiring dip in April 2021. Since then, it has seen an uptrend. There was a 35 per cent increase in hiring rate at the end of May 2021, whereas, in June 2021, it was 42 per cent, the report stated.
It also stated that youth working in the hardware and software industries are in high demand. "Our data shows that between January 2018 to June 2021, the share of Gen Zs entering the workforce has increased by over 4.2 times," it stated.