New Delhi: A report published by research agency revealed that the overall hiring in the country this year is expected to grow 8.3 per cent. The foundit Annual Trends Report revealed this.
The study claimed that Indian job market is showing signs of recovery in December. December witnessed a 2 per cent growth in hiring. Bengaluru expected to see an 11 per cent surge in hiring in 2024. Key sectors that will experience increased hiring include manufacturing, BFSI, automotive, retail, and travel and tourism.
Also Read: India’s services sector growth hits 3-month high in December
According to the data from the foundit Insights Tracker (fit), hiring activity in 2023 was 5 per cent lower than in 2022, indicating a slowdown in the job market.
‘The economy experienced a shift towards the end of 2023, breaking the previous trend that had been consistent since mid-2022. The job market entered a phase of variability, where both quit and hiring rates stabilised. Despite the lower number of job openings, the imbalance between job openings and hires pointed to the ongoing difficulties for businesses to find the right talent,’ the report noted.
The maritime and shipping industry saw a 28 per cent increase in hiring. Retail, and travel and tourism sectors, both witnessed a 25 per cent uptick, while advertising, market research, and public relations sector saw an 18 per cent increase.
The foundit Insights Tracker (fit) analysed data on its platform from January 2023 to December 2023.
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