June 03, 2022
As the holiday season has kicked in, the travel and hospitality sector is witnessing a 357 percent growth in hiring sentiment, breaking the shackles of the pandemic waves last year. 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 reports, the surge in hiring activity remains as it records over 40 percent y-o-y growth in May. Retail (+175 percent), real estate (+141 percent) 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.
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.