Hiring In AI-ML, Pharma, And FMCG Sectors Strong In August: Report
Date
9/3/2024 11:00:17 AM
(MENAFN- IANS) New Delhi, Sep 3 (IANS) Hiring in several sectors like artificial intelligence-machine learning (AI-ML), pharma, and FMCG demonstrated resilience and growth in August, according to a report on Tuesday.
The report by job portal Naukri showed that AI-ML led the sectors in hiring with a robust 14 per cent year-on-year increase, followed by FMCG (+11 per cent), Pharma/Biotech (+9 per cent), Auto (+7 per cent), and Oil & Gas/Power (+5 per cent).
While the job market performed steadily in the first half of the month, a unique clustering of holidays in the latter half led to reduced recruitment activity, causing a pronounced dip in the latter half of August, the report said.
"Hiring in August is a story of two halves. While the first half of the month showed typical patterns, the second half experienced an impact due to extended holidays," said Dr Pawan Goyal, Chief Business Officer of Naukri.
"Still, key sectors like AI-ML, FMCG, and Pharma continue to show robust growth, which gives us reason not to worry about the job market," he added.
The overall IT sector showed a modest 1 per cent year-on-year growth. Interestingly, IT unicorns bucked the trend with a 5 per cent growth, even as foreign MNCs and Global Capability Centers (GCCs) experienced a correction.
Kochi emerged as a bright spot in IT hiring, recording a significant 22 per cent year-on-year growth. The report further showed that experienced and senior professionals remained in high demand. Hiring for those with 16+ years of experience grew 11 per cent year-on-year and saw positive growth across all cities, while strategic and top management roles surged by 30 per cent. Those in the higher salary brackets also showed resilience, with positions offering 13-20 LPA increasing by 6 per cent and those above 20 LPA growing by 19 per cent.
"These trends indicate a strong market for experienced professionals and high-paying roles, contrasting with overall hiring patterns," the report said.
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