Jaipur, Vadodara to act as emerging hiring hubs, finds report

• The oil and gas sector has exhibited resilience and recorded a strong 9% growth in hiring trends compared to July of the previous year.
• The real estate sector demonstrated a noteworthy 5% growth in hiring activity.
• The current AI boom is driving a significant demand for specialised positions like full stack AI scientists and machine learning (ML) engineers.

The rapidly growing cities of Jaipur and Vadodara have demonstrated a consistent upward trend in their hiring indices, exhibiting increases of 4% and 2% respectively, when compared to July last year, according to the JobSpeak report by online job portal Naukri.com. This growth has been primarily driven by the oil and gas, pharma, and auto sectors, which have been actively recruiting in these regions.

The positive hiring trends in these sectors contribute significantly to the overall employment landscape of both Jaipur and Vadodara, making them attractive destinations for job seekers and businesses alike.

The Naukri JobSpeak Index, which serves as a key indicator for white-collar hiring in India, recorded a value of 2,573 for July 2023. This figure reflects an 8% decline compared to the previous month and a significant 19% decrease compared to July 2022.

Oil and Gas sector exhibit resilience

Despite the market turbulence, the oil and gas sector exhibited resilience and recorded a strong 9% growth in hiring trends compared to July of the previous year. The surge in energy consumption in the domestic market played a crucial role in driving this growth.

Certain roles within the sector saw high demand, particularly in cities like Ahmedabad, Mumbai, Pune, and Hyderabad. Positions such as field service engineer, quality engineer, procurement manager, and logistics manager were among the most sought-after.

Notably, senior professionals remained highly in demand within the oil and gas industry, indicating a preference for experienced and seasoned individuals to lead and contribute to its continued growth.

Real estate sector shows resurgence

The real estate sector demonstrated a noteworthy 5% growth in hiring activity, reflecting the resurgence of infrastructure projects and an increase in consumer investment in residential properties compared to July of the previous year.

Among the most sought-after profiles were project manager - construction, interior designers, architects, and civil engineers, particularly in cities like Kolkata, Mumbai, and Chennai. Notably, the demand for mid to senior-level professionals within the sector witnessed a higher increase in July 2023 compared to the same period last year, indicating a positive trend towards hiring experienced and skilled individuals to drive the industry's growth and development.

AI specific roles in demand

The current AI boom is driving a significant demand for specialised positions like full stack AI Scientists and ML Engineers. In July, the number of new job openings for these roles increased by 9% and 6%, respectively, compared to the beginning of the year. The tech and finance sectors are particularly showing the strongest demand for these niche roles. As AI continues to shape various industries, professionals with expertise in these areas are becoming increasingly sought after in the job market.

Hospitality sector on steady growth trajectory

As travel restrictions have been easing out and tourism is on the rise, the Hospitality sector has experienced a steady growth trajectory. In July 2023, there was a notable 2% increase in new job creation compared to the same month last year.

The sector has been actively generating employment opportunities for positions such as restaurant managers, hotel managers, and travel desk coordinators, with a particular focus on cities like Mumbai and Chennai. This positive trend in job creation signifies the recovery and revival of the hospitality industry as it adapts to the changing travel landscape.

IT industry witnesses dip in new job creation

The IT industry's hiring situation remains a cause for concern, as there was a significant 46% decline in new job creation in July 2023 compared to the same month last year. Additionally, other sectors like FMCG, Retail, BPO, insurance, and education also exhibited cautious hiring sentiments, with a respective decline of 23%, 23%, 21%, 16%, and 14% in new job opportunities compared to July last year.