{"id":38433,"date":"2024-06-06T13:03:25","date_gmt":"2024-06-06T07:33:25","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=38433"},"modified":"2024-09-18T16:34:25","modified_gmt":"2024-09-18T11:04:25","slug":"foundit-insights-tracker-may-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/foundit-insights-tracker-may-2024\/","title":{"rendered":"India\u2019s Hiring Landscape in May 2024: A Comprehensive Overview from the foundit Insights Tracker\u00a0"},"content":{"rendered":"\n<p>In May 2024, India\u2019s hiring landscape exhibited a significant resurgence, according to the latest foundit Insights Tracker. The data reveals an 11% annual increase in hiring activity. This upward trajectory is mirrored by a slight 2% decrease in hiring activity from the previous month, showcasing short-term fluctuations within a larger positive trend.&nbsp;<\/p>\n\n\n\n<p>The consistent growth over recent months, culminating in a 7% increase over the last three months, indicates a robust recovery and a positive outlook for the Indian job market. This growth trajectory suggests that India Inc. is on a path to significant recovery and expansion.&nbsp;<\/p>\n\n\n\n<div style=\"text-align: center;\">\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vS7G9N_tl8iwBvd7s_kL--2aiEcUNcGOtLY_dEUyi_3hDprvTLdvJYkrUEwFoiUZa5QAMtu5x3EdqG0\/embed?start=true&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n<\/div>\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\/06\/fit_INDIA_-May24.pdf\" target=\"_blank\" rel=\"noopener\">Download May 2024 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n<p><strong>Month-on-Month Analysis<\/strong>&nbsp;<\/p>\n\n\n\n<p>The analysis of hiring trends across different cities and sectors paints a diverse and dynamic picture:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Metros:<\/strong> Experienced a growth of +2% in hiring activity.&nbsp;<\/li>\n\n\n\n<li><strong>Tier-2 Cities:<\/strong> Saw a slight 1% decrease in hiring activity.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Hiring Trends \u2013 Industry and Functions<\/strong>&nbsp;<\/p>\n\n\n\n<p>The hiring landscape across various industries and functions revealed both challenges and growth areas:&nbsp;<\/p>\n\n\n\n<p><strong>Industry Trends<\/strong>&nbsp;<\/p>\n\n\n\n<p><strong>In-demand:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Production and <a href=\"https:\/\/www.foundit.in\/search\/fresher-manufacturing-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Manufacturing<\/a>:<\/strong> Showed the most substantial increase with +13% MoM and +47% YoY.&nbsp;<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/telecom-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Telecom<\/a>\/ISP:<\/strong> Notched a +5% increase MoM and +9% YoY.&nbsp;<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/health-care-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Healthcare<\/a>:<\/strong> Continued its upward trend with +4% growth MoM and +23% YoY.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Facing challenges:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Travel and <a href=\"https:\/\/www.foundit.in\/search\/tourism-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Tourism<\/a>:<\/strong> Despite a +2% MoM increase, it saw \u20134% YoY growth.&nbsp;<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/retail-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Retail<\/a>:<\/strong> Experienced a -2% MoM decrease and -16% YoY decline.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Function-wise Trends<\/strong>&nbsp;<\/p>\n\n\n\n<p><strong>In demand:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Software, Hardware, Telecom:<\/strong> Increased by +2% MoM and +11% YoY, reflecting the ongoing demand for tech skills.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/digital-marketing-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Marketing<\/a> &amp; Communications:<\/strong> Grew by +1% MoM and +16% YoY, driven by the need for digital marketing skills.&nbsp;<\/li>\n\n\n\n<li><strong>Healthcare:<\/strong> Also saw growth with +2% MoM and +11% YoY, driven by continuous innovation and integration of technology in healthcare services.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>City-wise Hiring Trends<\/strong>&nbsp;<\/p>\n\n\n\n<p><strong>Significant Growth:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Kolkata:<\/strong> Leads with a +21% YoY and +5% MoM increase, marking the fastest growth in hiring activity&nbsp;<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/jobs-in-bengaluru-bangalore\" target=\"_blank\" rel=\"noopener\" title=\"\">Bangalore<\/a>:<\/strong> Exhibits strong +22% YoY and +1% MoM growth, driven by its robust IT and manufacturing sectors.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Mixed Results:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mumbai:<\/strong> Despite a -2% YoY decline, there&#8217;s a +1% MoM increase, indicating potential recovery.&nbsp;<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/jobs-in-pune\" target=\"_blank\" rel=\"noopener\" title=\"\">Pune<\/a>:<\/strong> Observes a +7% YoY increase and +2% MoM rise, suggesting short-term improvements.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Experience-Level Hiring Trends<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>0-3 Years:<\/strong> Decreased by -2% MoM.&nbsp;<\/li>\n\n\n\n<li><strong>4-6 Years:<\/strong> Increased by +2% MoM.&nbsp;<\/li>\n\n\n\n<li><strong>7-10 Years:<\/strong> Remained stable with 0% change MoM.&nbsp;<\/li>\n\n\n\n<li><strong>11-15 Years:<\/strong> Saw a marginal uptick of +1% MoM.&nbsp;<\/li>\n\n\n\n<li><strong>\u226516 Years:<\/strong> Decreased by -2% MoM.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Metro vs. Tier-2 Trends<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Metros:<\/strong> Continued to see significant growth in hiring, with key hubs like Kolkata and Delhi\/NCR leading on a YoY basis.&nbsp;<\/li>\n\n\n\n<li><strong>Tier-2 Cities:<\/strong> Kochi, Coimbatore, and Jaipur emerged as key hiring locations annually.&nbsp;<\/li>\n\n\n\n<li><strong>Metro Cities continue to lead <\/strong>in sectors like IT, Advertising, and Travel\/Tourism, with steady growth in hiring and competitive salaries.&nbsp;<\/li>\n\n\n\n<li><strong>Tier-2 Cities show substantial annual growth <\/strong>across various industries, when compared to metros in Production and Manufacturing (29%), Real Estate (8%), and IT-Software &amp; Services (17%), highlighting their rising prominence in India&#8217;s economic landscape.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Key Takeaways<\/strong>&nbsp;<\/p>\n\n\n\n<p>May 2024 has been a month of significant recovery and optimism in India\u2019s job market. The foundit Insights Tracker highlights a positive shift across various sectors, with substantial growth in Production &amp; Manufacturing and steady advances in Healthcare and IT. The continued growth of industries in tier-2 cities towards a diversifying and resilient job market.&nbsp;<\/p>\n\n\n\n<p><strong>About foundit Insights Tracker<\/strong>&nbsp;<\/p>\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 in India and delves into the hiring trends in different sectors.&nbsp;<\/p>\n\n\n\n<p>For detailed insights and data, visit foundit.in.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In May 2024, India\u2019s hiring landscape exhibited a significant resurgence, according to the latest foundit Insights Tracker. The data reveals an 11% annual increase in hiring activity. This upward trajectory is mirrored by a slight 2% decrease in hiring activity from the previous month, showcasing short-term fluctuations within a larger positive trend.&nbsp; The consistent growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":41956,"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-38433","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\/38433","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=38433"}],"version-history":[{"count":2,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/38433\/revisions"}],"predecessor-version":[{"id":41958,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/38433\/revisions\/41958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/41956"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=38433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=38433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=38433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}