Old economy boosts June job market by 15%, tech lags

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CHENNAI: Despite tech startups hitting the pause button on recruitment activities, hiring in June was up 10-15% year-on-year and almost flat on a month-on month basis.
Though layoffs in the startup sector impacted the active jobs scenario in June, robust hiring activity by travel, hospitality, BFSI (banking, financial services & insurance) and manufacturing sectors lifted the overall employment market, headhunters and data from job portals showed. In online hiring, travel &hospitality showed the maximum surge in June.
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The sector recorded 125% hiring growth, according to Naukri.com’s JobSpeak index. Monster.com’s data showed BFSI, chemical/fertilizers and manufacturing contributed the most to the overall annual growth in recruitment activity. As companies realign hybrid work models and fight rising attrition, hiring for HR & admin roles saw a spike in June at about 20%, Monster.com said.
The TimesJobs RecruiteX found tier-2 cities saw maximum jumps for talent on a month-on-month basis in June with Jaipur (23%), Hyderabad (15%) and Ahmedabad (2%) the top three. “To offer work flexibility and retain talent, some have hybrid work and work-from satellite offices too,” said Sanjay Goyal, business head at TimesJobs and TechGig.



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