{"id":34738,"date":"2024-03-06T15:29:08","date_gmt":"2024-03-06T09:59:08","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=34738"},"modified":"2024-09-18T16:35:11","modified_gmt":"2024-09-18T11:05:11","slug":"foundit-insights-tracker-feb-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/foundit-insights-tracker-feb-2024\/","title":{"rendered":"February 2024 Employment Overview from the foundit Insights Tracker\u00a0\u00a0"},"content":{"rendered":"\n<p>The latest edition of the foundit Insights Tracker (fit) report for February 2024 reveals a modest 3% increase in online hiring activities compared to January 2024, despite a year-over-year decline of 8% from February 2023. This data suggests a nuanced picture of the<a href=\"https:\/\/www.foundit.in\/career-advice\/6-tips-to-search-for-a-job-in-an-uncertain-job-market-4\/\" target=\"_blank\" rel=\"noopener\" title=\"\"> <strong>job market<\/strong><\/a>, with certain sectors showing robust growth while others face headwinds.&nbsp;<\/p>\n\n\n\n<div style=\"text-align: center;\">\n<a style=\"display: inline-block;background-color: #7900c6;color: #fff;text-align: center;padding: 10px 20px;text-decoration: none;font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2024\/03\/fit_report_India_hiring_trends_-February_2024.pdf\" target=\"_blank\" rel=\"noopener\">Download February 2024 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vRKrVYBnALlupJNN7kcOxjF8GG4WUSGSUI-nGHAORqSi_2ycxUX2r5SXkO6tZyQBcRkFXFWleRdHSIL\/embed?start=true&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"1280\" height=\"749\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Monthly Dynamics and Sector-Wise Highlights<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>February&#8217;s report underscores a landscape of both challenges and opportunities within the job market<\/em>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Oil\/Gas\/Petroleum, Power, IT, and Manufacturing sectors emerged as frontrunners in job growth, each marking a 7% rise in hiring activities, driven by technological advancements and government incentives.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Conversely, the BPO\/ITES sector experienced a 4% decline, reflecting a reevaluation of workforce strategies in light of automation and market shifts.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>The <a href=\"https:\/\/www.foundit.in\/search\/travel-tourism-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Travel &amp; Tourism<\/strong><\/a> sector, despite a slight seasonal dip compared to last month, continued to perform strongly with a 4% growth, indicative of the sector&#8217;s recovery momentum.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Annual Hiring Trends \u2013 Industry&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>Seven out of 27 industry sectors monitored by the tracker, saw an increase in annual recruitment activity&nbsp;<\/em>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.in\/search\/retail-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Retail <\/strong><\/a>(17%) and Travel &amp; Tourism (15%) led annual growth, signalling consumer market resilience and a rebound in global travel. &nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Conversely, key sectors like Production and <a href=\"https:\/\/www.foundit.in\/search\/manufacturing-jobs-in-india\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Manufacturing <\/strong><\/a>(-3%), Oil\/Gas\/Petroleum, Power (-5%), and <a href=\"https:\/\/www.foundit.in\/search\/bfsi-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>BFSI<\/strong><\/a> (-6%) experienced yearly declines despite positive monthly movements, hinting at a gradual recovery.&nbsp;<br>&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">&nbsp;<strong>City-wise Performance and Sectoral Influence<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>The tracker also provides insight into geographical variations in job market performance<\/em>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Coimbatore led with a 4% increase, benefiting from growth in manufacturing and textiles.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Bangalore maintained its position as a tech hub with a 3% increase, while other major cities like Pune and Ahmedabad saw moderate growth. &nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>In contrast, metros like Mumbai and Chennai experienced slower growth, highlighting the competitive and cost-sensitive nature of these markets.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Role-Specific Observations and Trends<\/strong>&nbsp;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.in\/search\/hospitality-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Hospitality<\/strong><\/a> and<a href=\"https:\/\/www.foundit.in\/search\/travel-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong> Travel<\/strong><\/a>, alongside <a href=\"https:\/\/www.foundit.in\/search\/hr-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>HR <\/strong><\/a>and <a href=\"https:\/\/www.foundit.in\/search\/administration-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Administration<\/strong><\/a>, saw significant hiring increases, reflecting sectoral rebounds and a focus on talent management.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Senior management roles experienced a 6% increase, signifying a strategic emphasis on leadership amidst uncertain economic conditions.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Legal and <a href=\"https:\/\/www.foundit.in\/search\/marketing-communications-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Marketing &amp; Communications<\/strong><\/a> roles faced declines, possibly due to shifts in market demand and budgetary constraints.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Freshers\u2019 Hiring and Sectoral Shifts<\/strong>&nbsp;<\/p>\n\n\n\n<p><em>The report provides a special focus on the hiring landscape for freshers<\/em>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A 12% year-on-year decline in <a href=\"https:\/\/www.foundit.in\/search\/freshers-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>freshers&#8217; hiring<\/strong><\/a> points to a competitive job market with an increase in applications but fewer opportunities.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Technology and <a href=\"https:\/\/www.foundit.in\/search\/healthcare-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Healthcare<\/strong><\/a> sectors showed divergent trends, with the former seeing a decrease in its share of jobs and the latter doubling its share, likely due to growing healthcare demands.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>The contribution of startups to entry-level hiring significantly decreased, attributed to funding challenges and strategic hiring adjustments.&nbsp;<br>&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Geographical and Qualification-Based Insights<\/strong>&nbsp;<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.foundit.in\/search\/jobs-in-delhi-ncr\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Delhi-NCR jobs<\/strong><\/a> led in job postings, with notable shifts observed in the demand for IT graduates and management graduates, indicating changing industry requirements.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About foundit Insights Tracker<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The foundit Insights Tracker (fit), previously known as the Monster Employment Index, is foundit&#8217;s authoritative monthly report on hiring trends in India. It analyses millions of jobs to provide a panoramic view of recruitment activity of job market in India and delves into the hiring trends in different sectors.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest edition of the foundit Insights Tracker (fit) report for February 2024 reveals a modest 3% increase in online hiring activities compared to January 2024, despite a year-over-year decline of 8% from February 2023. This data suggests a nuanced picture of the job market, with certain sectors showing robust growth while others face headwinds.&nbsp; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":41952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-34738","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insights-tracker"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/34738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/comments?post=34738"}],"version-history":[{"count":3,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/34738\/revisions"}],"predecessor-version":[{"id":34782,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/34738\/revisions\/34782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/41952"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=34738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=34738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=34738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}