India’s Job Market Ushered in this Year’s Diwali with a Jump in Talent Demand

November 26, 20158:12 am412 views

India’s job market saw an increase in job opportunities and demand for talent during Diwali. Hiring activity across sectors in India grew by 2% in October 2015, according to RecruiteX – TimesJobs’ recruitment index. This is in sharp contrast to October 2014 when there was a double-digit drop in talent demand.

In fact, between August and October 2015, talent demand has reported a steady rise of 2% on average, while it had posted a 2% drop during the same three months last year.

Key findings from the survey are:

  • IT, telecom sectors report a 4% jump in hiring
  • Demand for Engineers post a 9% rise (very significant considering their huge base)
  • Demand is up by 11% for junior and entry-level professionals
  • Chennai leads the cities with demand rising a whopping 16%

IT and consulting companies’ demand for talent skyrockets

The consulting services are emerging as the fastest growing employment generator with a significant 9% rise in talent demand. The sector has registered an average growth of 3% (more than the overall industry average) in the last three months (August-October 2015).

Among the top ten sectors;

  • IT/telecom posts a 4% rise in demand as well
  • The BPO/ITeS sector reports 3% increase in demand during October 2015.

Demand for Engineers is back with a bang

“Hi-Tech skills and the burgeoning tech-based entrepreneurial spirit are the new growth engines of the Indian Economy. Initiatives like Digital India, Smart Cities, Make in India, etc. when coupled with easy availability of capital and improved networking infrastructures are creating unforeseen opportunities and changing the economy. The job markets are reflecting this economic paradigm shift,” said Vivek Madhukar, COO, TimesJobs.com

See: How Millennials Pick and Choose Employers in India?

After a two-month slump, demand for Engineers revives in October 2015. The profile posts a 9% rise in demand during the month. In related news, professionals in IT & telecom also report an 8% increase in demand.

  • Hi-touch skills such as those in the hospitality sectors also see a 7% rise in demand
  • Business management professionals see a 7% rise in demand
  • Accounting and finance professionals also witness 6% rise in demand

Demand for entertainment, media and journalism professionals also explodes and sees double-digit growth in demand. These profiles register a whopping 13% rise during October 2015 and have witnessed a consistent 2% rise on average in demand since August 2015.

Entry-level demand on fire

The demand for junior/entry-level professionals with 0-2 years of experience is witnessing a whopping 11% rise in demand. The category as a whole has registered an average 4% rise in demand over the last three months.

  • Demand for candidates with 2-5 years of experience has also risen by 3%
  • Candidates with 5-10 and 10-20 years of experience also posted 3% rise in demand
  • However, demand for candidates with over 20 years of experience dropped by a percentage point

Jobs sparkle in metros again

Talent demand revived in metros in October 2015. Except for Delhi NCR, all metros report an increase in talent demand. Chennai leads the pack with 16% rise in demand during the month. Bengaluru also posted a healthy 14% rise in demand. Among tier II and III job hubs, Ahmedabad tops the charts with an average rise of 10% in talent demand.

  • Hyderabad posted 14% rise in talent demand
  • Mumbai registered 7% increase in talent demand
  • Among states, Andhra Pradesh (except Hyderabad) witnessed the maximum increase (21%) in demand.

Also read: Career Advancement Opportunities Trump Salary: Monster India Poll

Image credit: intoday.in

(Visited 1 times, 1 visits today)