FMCG, Retail witness 23% decline in new job opportunities: Naukri

New Delhi, Aug 3 (KNN) The Naukri JobSpeak Index for July has revealed that sectors like FMCG, retail, BPO, insurance, and education showed a 16-23% decrease in new job opportunities compared to the previous year.

For white-collar jobs in India there was a significant drop of 19% in hiring compared to the same period last year.

The report highlights the persisting challenges in the IT industry, where new job creation experienced a substantial 46% drop compared to July 2022.

Despite the overall decline, sectors focused on the domestic economy, such as oil and gas and real estate, remained robust in their hiring activity. The stability in these sectors showcased the resilience of the Indian job market.

While the overall job market faced challenges, AI-related roles remained steady, with new job openings staying relatively flat around 31,780 compared to the previous month.

Niche roles like full-stack AI scientists and ML engineers experienced a positive trend, with a 9% and 6% increase, respectively, compared to the beginning of the year. These roles were particularly sought after in the tech and finance sectors.

Amidst the varied hiring landscape, cities like Jaipur and Vadodara stood out with a steady rise in hiring indices.

These cities witnessed a 4% and 2% increase, respectively, in hiring trends compared to July last year, primarily driven by growth in the oil and gas, pharma, and auto sectors.

Despite the challenges posed by cautious hiring sentiments, Pawan Goyal, the chief business officer at Naukri.com, emphasised the positive trends in the domestic sectors such as oil and gas, real estate, and hospitality, along with stable hiring for AI-related roles. This showcased the adaptability and diversification of the Indian job market.

The report indicates the need for continued monitoring of hiring trends and highlights the importance of resilience and adaptability in navigating the changing job landscape in India.  (KNN Bureau)