New Delhi: Hiring activity in India increased by 40 per cent year-on-year in May 2022 led by strong growth in the sectors like travel, hospitality, retail, real estate and banking and financial services, according to data published by job portal Naukri.com.
The highest increase in hiring during the month under review was recorded in the travel and hospitality sector. Hiring in the travel and hospitality sector surged by 357 per cent year-on-year in May 2022. This could be mainly due to the impact of the COVID-19 pandemic.
Travel and hospitality has been the worst affected sector during the COVID pandemic. May 2021 was among the worst-hit period of COVID-19. Other sectors which witnessed robust growth in hiring include retail, real estate, insurance and BFSI.
The retail sector witnessed 175 per cent jump in hiring during the month under review. Hiring in real estate sector surged by 141 per cent in May 2022 while the insurance sector witnessed 126 per cent growth in hiring during the month year-on-year.
The banking, Insurance and Financial Services sector witnessed 104 per cent year-on-year increase in hiring during May 2022.
"The recruitment landscape continues to stay resilient and is sustaining the momentum 2022 ushered in. The job market has shown stable sequential trends that is substantially ahead of last year baselines," said Pawan Goyal, Chief Business Officer, Naukri.com.
"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," Goyal said.