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Tech hiring rebounds in May; overall job market still weak, says report

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The data also indicated that hiring for mid-level executives with 8-12 years of experience and leadership roles (more than 16 years of experience) grew by 5 percent and 2 percent, respectively.

Tech hiring rebounds in May; overall job market still weak, says report
Hiring across sectors declined in May, though the tech industry job market rebounded from the pandemic-induced downturn as many technology companies have been on full expansion mode, according to a report.
There was a 2 percent decline in the overall number of new job posts in May on the SCIKEY Market Network, a job site, including in sectors like banking with a dip of 12 percent, retail 16 percent and FMCG 12 percent, while there was a growth of 5 percent in the insurance sector.
However, the data revealed that there was robust demand for jobs like software developer, DevOps, cloud and data engineer, which witnessed 12-16 percent growth in May.
Other profiles like sales, marketing, site engineering, human resources, finance and project manager witnessed flat demand, the report added.
The data has been collected using SCIKEY's job portal and the market research conducted by SCIKEY Market Network based on over 10,000 job postings across India.
The data also indicated that hiring for mid-level executives with 8-12 years of experience and leadership roles (more than 16 years of experience) grew by 5 percent and 2 percent, respectively. However, hiring for entry-level professionals (0-3 years’ experience) declined by 4 percent.
"It's been a rough patch for most sectors since the lockdowns took place. Although, tech companies have gained good momentum on hiring. Due to the shift to remote work and the surge in demand for certain online services, tech has been immune to the lockdowns to some extent," SCIKEY co-founder Karunjit Kumar Dhir said.
The increase in tech hiring indicates that such roles remain the most in-demand due to increased competition and demand for new digital technology-led projects during the pandemic, he noted.
"This is a positive indicator that businesses are moving towards getting their growth plans into action and not just survival or business continuity strategies. Since the economy is gradually boosting with the unlock measures and increased mobility, we are hopeful that the hiring activities will further improve in the rest of the sectors as well," Dhir added.

Market Movers

CompanyPriceChng%Chng
Britannia3,505.00 81.60 2.38
SBI Life Insura1,118.50 19.90 1.81
Titan Company1,741.00 26.45 1.54
Axis Bank718.40 9.50 1.34
Tata Motors297.85 3.90 1.33
CompanyPriceChng%Chng
Titan Company1,740.00 25.50 1.49
Axis Bank718.25 9.25 1.30
Maruti Suzuki7,060.45 81.75 1.17
HDFC2,466.35 25.60 1.05
M&M750.80 7.60 1.02
CompanyPriceChng%Chng
UPL797.45 -11.10 -1.37
Tech Mahindra1,203.05 -6.50 -0.54
Wipro584.25 -2.90 -0.49
NTPC117.95 -0.25 -0.21
Dr Reddys Labs4,697.05 -14.15 -0.30
CompanyPriceChng%Chng
Tech Mahindra1,203.10 -6.35 -0.53
NTPC118.00 -0.20 -0.17
Dr Reddys Labs4,695.75 -16.95 -0.36
Power Grid Corp170.70 -0.35 -0.20
Tata Steel1,430.90 -2.85 -0.20

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.41000.00000.00
Euro-Rupee88.31800.12500.14
Pound-Rupee103.39000.10600.10
Rupee-100 Yen0.6784-0.0003-0.04