India’s job market has witnessed a remarkable resurgence in 2024, with emerging cities leading the charge in employment growth.
According to a recent report by Naukri.com, cities like Indore, Udaipur, Bhubaneshwar, and Jaipur have seen impressive job growth, with Udaipur leading with a 17% overall growth and Indore up by 14%.
This trend highlights the shifting dynamics of India’s job market, with opportunities spreading beyond traditional metropolitan hubs.
Sector-Wise Job Growth in Emerging Cities
Emerging cities have become significant hubs for job opportunities, driven by robust growth in sectors such as IT, oil and gas, construction, and finance.
Jaipur, for instance, has emerged as a tech hub, registering a 48% growth in IT sector hiring during the third quarter.
Ahmedabad also bounced back strongly in the latter half of the year, posting significant growth in sectors like oil and gas, construction/engineering, and accounting/finance.
IT sector has been a major driver of job growth, with a surge in demand for roles in artificial intelligence (AI), machine learning (ML), data analytics, and cloud technologies.
AI/ML sectors saw growth rates ranging from 14% to 47% during the year, reflecting the ongoing demand for tech-driven talent.
FMCG sector also maintained a positive growth rate, peaking at 20% by the third quarter.
Similarly, the pharma/biotech sector continued to thrive, benefiting from ongoing healthcare needs.
The insurance sector experienced a significant surge in growth, with a 37% increase in Q2 driven by rising demand for financial security.
This momentum continued into Q3 with a 23% growth, highlighting the importance of financial security in uncertain times.
The banking and financial services sector saw modest growth throughout the year, contributing to the overall positive trend in the job market.
Recovery in Metro Cities
While emerging cities have shown impressive growth, metro cities like Chennai, Hyderabad, and Pune have also played a crucial role in the job market recovery.
Pune, in particular, recorded a 13% growth in hiring during the third quarter, indicating a strong rebound in employment opportunities.
This recovery is a positive sign for India’s job market, which had faced challenges earlier in the year.
Job Growth: Freshers Hiring and Future Outlook
Freshers hiring witnessed an increasing trend in non-IT sectors towards the second half of the year, indicating a broader recovery in employment opportunities.
As companies continue to invest in AI/ML and digital transformation, the outlook for 2025 remains optimistic.
The report stresses the importance of experienced leadership and continuous upskilling to meet the evolving technological landscape.
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