Online hiring in India reported a 5% drop in August 2023 compared to August 2022, according to the latest foundit Insights Tracker.

The hiring index decreasing from 275 in August 2022 to 260 in August 2023. Foundit noted that July 2023 also saw a 5% annual decrease.

In a month-to-month analysis, there was a 3% contraction in the hiring index, with July 2023 showing an index of 268.

Overall, 11 of the 27 industries monitored saw an increase in hiring activity in August led by growth in shipping/marine (58%). However, the IT-Hardware/Software sector saw a 17% dip in hiring on a yearly basis. 

Online hiring demand surpassed the year-ago level in 4 of the 13 functional areas monitored by the tracker. Hospitality and travel led growth (+13%) while customer service saw the biggest drop over the year (-24%).

Tier-2 cities such as Vadodara and Ahmedabad witnessed positive hiring trends, while metros like Bangalore and Hyderabad faced declines.

The foundit Insights Tracker analyses online job posting activity, providing insights into recruitment trends, skill demand, and salary ranges. The index is calculated using a volatility-adjusting formula.