Holiday season boosts travel, hospitality with 357% growth in hiring: Report

New Delhi: As the holiday season has kicked in, the travel and hospitality sector is witnessing a 357 per cent growth in hiring sentiment, breaking the shackles of the pandemic waves last year, according to a report released on Friday.

India showed promising signs of economic recovery in May 2022 with hiring across key sectors witnessing an upward year-on-year trajectory and a stable sequential trend.

According to the latest Naukri JobSpeak May ’22 Index, the surge in hiring activity stays put as it records over 40 per cent y-o-y growth in May.

Retail (+175 per cent), real estate (+141 per cent) and insurance (+126 per cent) were among the top sectors that witnessed a significant y-o-y growth in May 2022.

Other key sectors that saw an uptick in hiring trends as compared to last year are BFSI (+104 per cent), education (+86 per cent), auto (+69 per cent), oil and gas (+69 per cent), FMCG (+51 per cent) and IT-software/software services (+7 per cent).

The demand for talent in metros and non-metros remained steady as all cities indicated a double-digit y-o-y growth in May 2022.

Amongst metros, Delhi (63 per cent) registered the highest y-o-y growth closely followed by Mumbai (+61 per cent). Kolkata (+59 per cent), Chennai (+35 per cent), Pune (+27 per cent), and Hyderabad (+23 per cent) also showed positive y-o-y growth.

An optimistic hiring sentiment was observed across all tier-II cities with Jaipur leading the y-o-y growth in demand for talent at (+76 per cent).

Other emerging cities such as Coimbatore (+64 per cent), Vadodara (+49 per cent), Cochin (+35 per cent), Ahmedabad (+26 per cent), and Chandigarh (+25 per cent) showed double digit y-o-y growth.

Further, across all experience levels, the demand for entry-level talent (0-3 years) exhibited the steepest rise of +61 per cent in May 2022 vs May 2021.

Moreover, a positive hiring sentiment was observed for other experience brackets such as 4-7 years (+37 per cent), over 16 years (+27 per cent), 13-16 years (+26 per cent) and 8-12 years (+22 per cent).

“The recruitment landscape continues to stay resilient and is sustaining the momentum 2022 ushered in. The job market has shown stable sequential trends that are substantially ahead of last year’s baselines. The secular nature of trends; cutting across metros as well as non-metros, experienced professionals as well as freshers is again a good indicator of this strong hiring sentiment,” said Pawan Goyal, Chief Business Officer, Naukri.com, in a statement. – IANS

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