E-commerce, BFSI, hospitality sectors driving job market in 2024: Report

E-commerce, BFSI (banking, financial services, and insurance), and hospitality sectors witnessed an increased demands for talents in the first four months of 2024, indicating a recovery in overall job market, a report said on Thursday.

Driven by economic recovery, the demand for workforce in BFSI increased the maximum by 21 per cent during the first four months of this calender year. The e-commerce sector saw an increase of 17 per cent, services and hospitality industries reported a growth of 13 per cent, according to a report by professional networking platform Apna. The report is based on the data on Apna platform during 2023 and 2024.

It also found that the job market in the southern part of India saw a growth of 23 per cent compared to 18 per cent last year, with cities like Hyderabad, Bengaluru and Chennai leading in terms of total number of job postings.

The adoption of digitalisation is becoming increasingly evident in tier II and III cities like Lucknow, Coimbatore, and Gwalior that have been witnessing a surge in job postings.

"Cities such as Hyderabad, Bengaluru, and Chennai are at the forefront of the growth in the job landscape. This trend showcases the strength of southern India's job market and underscores the expanding opportunities fuelled by digitalisation.

"From bustling metropolitan areas to emerging tier II and tier III cities like Lucknow, Coimbatore, and Gwalior, our platform reflects a dynamic landscape, offering promising prospects for job seekers nationwide," apna.Co CEO and founder Nirmit Parikh said.

The platform has registered a 21 per cent year-on-year increase in the number of job applications from freshers and an 18 per cent rise from women job seekers during the reporting period.

The total number of applications received during the period reached approximately 1.7 crore, up 15 per cent from a year ago, the report added.