Hiring decreased by 12 percent on annual basis, IT sector most affected; 64% increase in jobs in AI

Big news is coming for those doing white-collar jobs in the country. According to a report released today, there have been fewer recruitments in IT software, telecom and education sectors during October-November. There has been a decline of 12 per cent on an annual basis.

According to Naukri JobSpeak Index, white-collar jobs declined by 12 per cent during the October-November month with 2,433 job postings as against 2,781 in the same period a year ago.

During October-November 2023, there was 18 per cent less hiring in telecom, 17 per cent in education and 11 per cent less in the retailing sector as compared to 2022. Whereas recruitment in sectors like hospitality, travel auto and auto assistant remained stable.

According to the report, total recruitment in the IT sector in October-November was 22 per cent less as compared to the same months last year.

According to the report, hiring in the oil and gas sector increased by 9 per cent in October-November compared to last year, due to rapid expansion by energy companies and the setting up of new refineries across the country.

In the pharma sector too, new hiring increased by 6 percent in October-November compared to 2022. Apart from this, a growth of 5 per cent was seen in the insurance sector. Pawan Goyal, Chief Business Officer, Naukri.com said, “It was encouraging to see core non-IT sectors like oil and gas, pharma and insurance growing at a healthy clip during a busy festive period. 1 per cent growth in IT in November compared to October could be a much-awaited positive sign Because we are eagerly waiting for the trends of the next month."

According to the report, new jobs in AI-related sectors like machine learning engineers and full stack data scientists have increased rapidly during October-November. Machine learning engineer jobs have increased by 64 per cent compared to a year ago, and full-stack data scientist jobs have increased by 16 per cent.

According to the report, recruitment in non-metros has increased compared to metros. In Vadodara city, hiring has increased by 9 per cent during this period as compared to 2022. However, hiring in Ahmedabad has remained stable.

According to the report of Naukri.com, the rate of new hiring in metros like Delhi NCR and Mumbai has decreased by 12 per cent this year compared to October and November 2022. Whereas there has been 20 per cent less hiring in Bengaluru, 18 per cent in Hyderabad, 21 per cent in Chennai and 18 per cent less in Pune.