Energy, IT, manufacturing sectors in India drive job growth: Report

Sectors like energy, IT, and manufacturing in India witnessed significant growth in recruitment activity, a new report revealed on Friday.

According to the talent management platform foundit (formerly Monster jobs), there has been a gradual uptick in hiring activity across sectors, indicating a three per cent (month-on-month) growth.

In February 2024, the IT-Hardware and Software sector experienced substantial growth, showing a remarkable 7 per cent increase compared to the preceding month.

The Oil/Gas/Petroleum and Power sector observed a surge in hiring demand, with a notable increase of 7 per cent over the past month.

"The positive momentum in certain sectors like manufacturing and energy are encouraging signs. However, freshers face a challenging landscape with increased competition and fewer opportunities," said Sekhar Garisa, CEO, foundit, a Quess company.

There has been a significant 24 per cent increase in the number of job applications.

On average, there are approximately 6 job applications for every 1 active job opening.

Moreover, the report revealed that cities like Coimbatore, boasting a 4 per cent increase, demonstrated strong performance. 

Bengaluru continued its upward trajectory with a 3 per cent increase.

Meanwhile, cities such as Pune, Ahmedabad, and Delhi-NCR saw moderate growth of 2 per cent, showing the influence of their diversified economies and the presence of various industries.

The report further noted that roles in Hospitality and Travel experienced a remarkable surge in hiring by 8 per cent, indicating a robust rebound from stagnant growth last month. 

Roles in HR and Administration witnessed a notable increase of 7 per cent in February.