The latest report from the foundit Insights Tracker (fit) shows that online recruitment in India surged by 27% in September 2024 compared to the same period in 2023, marking a new milestone as the index returned to pre-pandemic levels. This substantial rise underscores the robust recovery of India’s job market, with September achieving the highest growth rate over the last two years.
The momentum in online recruitment continues to build. September 2024 alone saw a 9% month-over-month increase, reflecting confidence in India’s economic resilience and future growth. Across industries, 22 out of 27 sectors recorded an uptick in hiring, reinforcing the optimism in diverse fields.
Sector Highlights: Manufacturing, Real Estate, and IT Lead Growth
Manufacturing led with an impressive 48% year-on-year growth, marking a significant rebound in the sector. Real estate followed closely with a 41% increase, showing substantial recovery in construction and property development. Construction and engineering sectors also kept pace with a strong 41% year-on-year gain, signifying a resurgence in demand across these industries.
The IT sector sustained its dominance, registering a 34% increase over last year. As companies prioritize digital transformation, the demand for tech expertise remains high across industries.
Job Functions and Hiring Trends: Hospitality and Healthcare Shine
Among job functions, hospitality roles experienced the highest year-on-year increase, surging by 35%. Medical and healthcare positions closely followed, seeing a 32% rise as healthcare needs continue to expand.
Geographically, hiring accelerated in all 13 monitored cities, with Coimbatore leading at 55% growth compared to last year. This urban growth trend showcases the widespread recovery across major cities and regional hubs.
Experience Levels: Rising Demand for Fresh Talent and Mid-Senior Professionals
Hiring demand has shown notable variation across experience levels. Entry-level roles (0-3 years) saw a 15% year-on-year rise, indicating that companies are eager to onboard fresh talent. Mid-senior (7-10 years) and mid-associate roles (4-6 years) both increased by 16%, signaling an uptick in demand for experienced professionals with specialized skill sets. Meanwhile, senior-level roles (11-15 years) grew modestly at 3%, as did those for candidates with over 16 years of experience.
The foundit Insights Tracker, formerly known as the Monster Employment Index, continues to serve as a comprehensive gauge of hiring trends, offering valuable insights into India’s dynamic job market. With sustained hiring gains and record-breaking growth rates, September 2024’s results underscore a promising future for India’s employment landscape.
Conclusion
The surge in online recruitment throughout September 2024 signals a bright future for India’s employment landscape, with significant gains across industries, job functions, and cities. The strong growth in entry-level and mid-senior roles reflects a healthy demand for both fresh talent and experienced professionals, suggesting that companies are poised for expansion in a steadily recovering economy. As hiring trends continue to evolve, the foundit Insights Tracker remains an essential resource, offering a clear view into India’s employment momentum and economic resilience. This upward trajectory sets a positive tone for the coming months, with promising opportunities across sectors.
Source: https://www.staffingindustry.com/news/global-daily-news/online-hiring-soars-27-in-september-with-gains-in-manufacturing
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