Hiring activity in India recorded year-on-year growth of 13% in September 2022 when compared to September 2021, according to the latest Naukri JobSpeak Index.

The Naukri JobSpeak Index stood at 3,103 and recorded a sequential increase of 10%.

The Insurance sector recorded a year-on-year increase of 90%. This was followed by Retail (66%) and Banking/Financial Services/Broking which recorded year-on-year growth of 64%. Travel & Hospitality (48%) and Oil and Gas/Power/Infrastructure/Energy (43%) also recorded growth over the year.

The IT-Software/Software Services sector slowed down recording a 6% decrease over the year in September along with Medical/Healthcare/Hospital (6%) while the IT-Hardware & Networking fell by 12%.

“The JobSpeak Index crossing the 3,100 mark in September 2022 is a great sign marking strong intent amongst recruiters before the festive period kicks in,” Pawan Goyal, Chief Business Officer, said. “It is notable to see that key sectors of Insurance and Real Estate have maintained their growth momentum and have recorded sterling performances.”

Amongst metros, Mumbai topped the hiring charts as it saw 27% year-on-year growth. Other metros exhibited annual hiring growth, except for Bengaluru (-8%). The cities of Chandigarh (-11%) and Vadodara / Baroda (-4%) also reported decreases.

Demand for professionals across all experienced bands remained steady in Sep 2022 against last year. Professionals with over 16 years of work experience saw the steepest uptick at 15% followed by 13-16 years of work experience band recording 10% growth. Professionals with 8-12, 4-7, and 0-3 years of experience reported growth at 10%, 8% and 9% respectively

The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website.