New Delhi, Sep 2 : The hiring rate remained steady at 6 percent year-on-year (YoY) and the insurance industry was a major driver as it increased by an average of 87 percent in August this year in comparison to the previous year in India the report published on Friday.According to a report from Naukri JobSpeak, the Insurance sector continued to expand in employment over past year, for the seventh year in the past.
“After witnessing a dramatic increase in the past two months hiring activity is showing indications of stabilisation and it will be interesting to see if the trend will continue in the months ahead,” Pawan Goyal, Chief Business Officer of Naukri.com stated in an announcement.
“Important to be aware that the insurance sector has been growing since the beginning of this year, as there has been a steady increase in hiring, which has created opportunities across all experience bands with more than 100 percent YoY growth in the 0-7 year experienced band,” he added.
In the insurance industry the highest level of traction was observed for the 4-7 year experience band (103 percent) followed by the 0-3 year age group (99 percent) as well as 8-12 years (42 percent).
When looking at cities in the sector, there was an increase in employment in NCR (136 percent) as well as Mumbai (129 percent) in August 2022 as when compared to the previous year.
In addition to the insurance industry there has been an increase in the desire to recruit in other areas, such as tourism and hospitality (56 percent) banking financial services and insurance (BFSI) (43 percent) auto/auto ancillary (29 percent) and real estate (24 percent) and retail (18 percent).
While biotech and pharma remained stagnant and the IT/software sector posted decreases of 10% YoY.
In the tier II cities, Coimbatore led the charts at 28 percent YoY growth and was followed by Kochi with 27 percent.
In the cities that are metropolis, Mumbai led the charts with a growth rate of 21 percent and Delhi/NCR was the next.Hyderabad and Pune remain in a flat.Bengaluru showed a dip of 10 per cent.
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