<p>Bengaluru: Hiring across sectors saw an average 8 per cent annual decline and a 3 per cent month-on-month uptick in February, talent search platform foundit’s Insights Tracker showed. </p>.<p>The steady climb of the index from 262 to 269 within the first two months of 2024 suggests a positive momentum in employment opportunities, the report released on Friday said. However, fresher recruitments in February saw a 12 per cent year-on-year decline in the backdrop of heightened competition.</p>.<p>“The positive momentum in certain sectors like manufacturing and energy are encouraging signs. However, freshers face a challenging landscape with increased competition and fewer opportunities,” foundit Chief Executive Sekhar Garisa underscored. </p>.<p>Industries such as oil/ gas/ petroleum, power, and IT hardware and software showed strong performance, each experiencing a 7 per cent month-on-month increase in hiring during the period under review, per the report. </p>.<p>The IT hardware and software sector’s bounce back from last month’s 1 per cent dip reflects a resurgence in demand for skilled professionals in these fields, the report said. For enhanced recruitment in the power sector, it credited government emphasis on renewable energy and electrification projects.</p>.<p>Meanwhile, production and manufacturing saw a 6 per cent uptick, driven partly by the impact of production-linked incentive schemes. Travel and tourism saw a 4 per cent month-on-month growth, alongside a 3 per cent rise in media and entertainment and the fast moving consumer goods industries, each. </p>.<p>Sectors such as advertising, banking/finance and healthcare indicated a cautious approach to hiring with month-on-month growth in the red.</p>.<p>The southern city of Coimbatore emerged as the winner with a 4% increase in hiring numbers, driven by the growth in its manufacturing and textile sectors. Metro cities like Mumbai and Chennai, on the other hand, saw slower growth at 1 per cent. </p>
<p>Bengaluru: Hiring across sectors saw an average 8 per cent annual decline and a 3 per cent month-on-month uptick in February, talent search platform foundit’s Insights Tracker showed. </p>.<p>The steady climb of the index from 262 to 269 within the first two months of 2024 suggests a positive momentum in employment opportunities, the report released on Friday said. However, fresher recruitments in February saw a 12 per cent year-on-year decline in the backdrop of heightened competition.</p>.<p>“The positive momentum in certain sectors like manufacturing and energy are encouraging signs. However, freshers face a challenging landscape with increased competition and fewer opportunities,” foundit Chief Executive Sekhar Garisa underscored. </p>.<p>Industries such as oil/ gas/ petroleum, power, and IT hardware and software showed strong performance, each experiencing a 7 per cent month-on-month increase in hiring during the period under review, per the report. </p>.<p>The IT hardware and software sector’s bounce back from last month’s 1 per cent dip reflects a resurgence in demand for skilled professionals in these fields, the report said. For enhanced recruitment in the power sector, it credited government emphasis on renewable energy and electrification projects.</p>.<p>Meanwhile, production and manufacturing saw a 6 per cent uptick, driven partly by the impact of production-linked incentive schemes. Travel and tourism saw a 4 per cent month-on-month growth, alongside a 3 per cent rise in media and entertainment and the fast moving consumer goods industries, each. </p>.<p>Sectors such as advertising, banking/finance and healthcare indicated a cautious approach to hiring with month-on-month growth in the red.</p>.<p>The southern city of Coimbatore emerged as the winner with a 4% increase in hiring numbers, driven by the growth in its manufacturing and textile sectors. Metro cities like Mumbai and Chennai, on the other hand, saw slower growth at 1 per cent. </p>