Non-information technology sectors stole the show in July hiring trend

July was also when TCS shook the IT industry job market by announcing layoffs of over 12,000 employees, raising concerns that hiring in this sector could be under severe stress

Non-information technology (IT) sectors like hospitality, insurance, education, accounting, and architecture amongst others have shown big momentum in hiring while software services and telecom entered the negative zone in July this year over the same month last year, according to a Naukri.com research based on data from over 100,000 clients.

 

July was also when Tata Consultancy Services (TCS) shook the IT industry job market by announcing layoffs of over 12,000 employees, raising concerns that hiring in this sector could be under severe stress.

 

According to the research, hospitality and travel hiring grew by 26 per cent while insurance and education sectors showed heady growth of 22 per cent and 16 per cent, respectively. As a result, overall white-collar hiring in July was up by 7 per cent.

 

On the flip side, IT and software services hiring de-grew by 1 per cent, and telecom services shrank by 9 per cent in July.

 

What is, however, interesting is that at an overall level, GCC hiring went up by 5 per cent. Many analysts say there is a shift of jobs from the IT sector to GCCs. And Mumbai was the hotspot for GCC hiring, which grew by a staggering 18 per cent in July.

 

Of course, the demand for artificial intelligence and machine learning (AI/ML) experts continues unabated — hiring was up 41 per cent as many companies implementing AI or startups in their businesses are looking for talent with such skillsets.

 

As far as fresher hiring is concerned, it grew by 8 per cent but was driven by non-IT services oil and gas, real estate, and education sectors. But the growth for executives with 16-year-plus experience zoomed 13 per cent, led by pharma, biotech, Business Process Outsourcing (BPO), and information technology-enabled services (ITeS).

 

The research says that southern cities saw a notable rise in fresher hiring, with Coimbatore (17 per cent) and Kochi (15 per cent) leading the charge.

 

However, metros spearheaded the unicorn recruitment boom, led by Chennai (32 per cent growth), Delhi-NCR (31 per cent), and Pune (22 per cent).

 

Among cities which were hot locations for hiring, Gwalior (25 per cent), Jamnagar (12 per cent), Indore (11 per cent), and Vizag (12 per cent) took the honours. However, Jammu, with a lower base, saw a 40 per cent growth in hiring.