Apr 29, 2024 03:52 PM IST
Unicorns have been facing a funding crunch. Despite that, the sector has shown an 8% YoY growth, as per Naukri index.
Naukri’s JobSpeak Index of March showed a rise in demand for certain industry sectors. The index which stood at 2,657 in March 2024, saw a 4% dip from the previous month and 11% correction on a year-on-year basis. The index showed that oil and gas sector’s hiring increased by 22% over the prior year. The demand for hiring experts with 16 years or more of experience increased by 11% year over year (YoY). Also, the key roles that saw high demand were MEP engineers and electrical engineers in this sector.
Is there more and more demand for AI roles?
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The survey stated that demand for AI and machine learning roles has increased by 12%. The position of machine learning (ML) engineer had the most hiring demand among the artificial intelligence (AI) and ML fields, with an 82% YoY growth. With an increase of 20%, full-stack data scientists were also in demand.
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The hiring in the Pharma sector rose by 2%, according to Naukri index. The growth from places like Ahmedabad, Mumbai, and Baroda was particularly noteworthy. Indeed, Naukri has shown that there is a desire for employment in Rajkot, Raipur, and Guwahati as it has broadened its reach to include these growing cities.
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What about startups and hiring?
Unicorns have been facing a funding crunch. Despite that, the sector has shown an 8% YoY growth. The software services space in startups has given a boost to this segment with an increase of 77% in hiring requirements.
Which sectors showed a dip?
There has been a dip in hiring in IT, BPO, and retail sectors by 16%, 6%, and 5%, respectively, over the last year.
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Pawan Goyal, Chief Business Officer of Naukri.com, said, “Basis the latest Naukri JobSpeak report & analytics, to me the Indian white-collar job market looks poised as we exit a challenging year given the headwinds faced by the IT sector. With the brline correction behind us and a few bright spots visible in March, positive trends in the coming quarters seem quite plausible. Demand for seasoned professionals and Indian AI/ML talent should give everyone lots to cheer for.”
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