Job market clocks 6% growth in September, buoyed by recovery in IT hiring: Report

White-collar hiring activity witnessed a 6 per cent growth in September compared to the same month last year, mainly driven by a recovering IT sector, a report said on Thursday.

The Naukri JobSpeak Index reached 2,727 points in September, marking a 6 per cent year-on-year (YoY) growth, it said.

This positive trend was largely driven by a resurgent IT sector, which demonstrated 18 per cent YoY growth in hiring activity.Non-traditional IT hubs showed significant growth, potentially indicating a geographical diversification trend.Jaipur led the pack with a 47 per cent YoY increase in IT roles, followed by Kolkata at 32 per cent, the report said.

The IT sector also saw a 35 per cent YoY growth in hiring for professionals with over 16 years of experience. 

Unicorns and foreign MNCs were key drivers of this growth, with 16 per cent and 14 per cent YoY increases, respectively, it added.Sectors such as FMCG (23 per cent) and oil and gas (13 per cent) also exhibited strong growth, said the report.

Mumbai and Bengaluru emerged as key drivers, with FMCG roles growing 49 per cent and 43 per cent, respectively, in these cities, it said.The oil and gas sector also demonstrated robust growth, with a 13 per cent YoY increase in hiring, the report said, adding that Ahmedabad stood out in this sector, witnessing a remarkable 54 per cent YoY growth.

Artificial intelligence/machine learning roles continued their meteoric rise, with hiring for these positions surging 31 per cent compared to September 2023, it stated.

The Naukri JobSpeak is a monthly Index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on Naukri.Com.