Hiring trends across sectors: Retail leads, IT sector jobs down 22% year-on-year

 

There was a 22% drop in hiring in the IT sector, including hardware and software.

According to the Foundit (formerly Monster) Insights Tracker (FIT) for January 2023 report, the retail space saw a 19 percent year-over-year increase in hiring activity in January, while IT, media and entertainment, including home appliances Sectors registered a slowdown.

Retail is again the top industry in hiring activity on a year-over-year basis. In addition, travel and tourism showed a growth of 15% with major demand driving operations with a focus on increasing revenue generation through digitization and personalisation.

The year-on-year growth momentum in Ad, MR, PR (+15%) also strengthened this month, the report showed.

Hiring in the IT sector including hardware, software saw a 22% decline. The media and entertainment (-18%) sector declined further, recording the sharpest decline among sectors.

Apart from these, other industries witnessing growth in hiring activity in Jan'23 include - Shipping/Marine (+5%), Telecom/ISP (+4%), Chemical/Plastic/Rubber, Paint, Fertilizer/Pesticide (+ 3%), Office Equipment/Automation (+3%), Logistics, Courier/Freight/Transportation (+2%) while FMCG, Food & Packaged Food (0%) and Real Estate (0%) remain silent while BFSI (- 1%), Automotive/Ancillaries/Tire (-3%), Manufacturing/Manufacturing (-4%), Education (-8%), Engineering, Cement, Construction, Iron/Steel (-8%), Agriculture Based industries (-9%), BPO/ITES (-10%), healthcare, biotechnology and life sciences, pharmaceuticals (-15%), and BPO/ITES (-15%) sectors saw a steady decline.

Meanwhile, Ahmedabad in Gujarat has emerged as the city with most active recruitment activity in India.

Ahmedabad registered a growth of 16% on a year-on-year basis and the demand was mainly driven by advertising, MR & PR and BFSI industry.

Kolkata (-25%), Bangalore (-13%), Baroda (-7%), Hyderabad (-7%), Chennai (-9%), Kochi (-6%), Pune (-3%), Jaipur (-2%) and Coimbatore (-2%) witnessed the most restricted recruitment activity and continued to weigh down the index registering negative annual growth in Jan'23.