Festival Season Boosts Job Opportunities

New Delhi: The festive season has significantly impacted the job market, with a marked increase in hiring across various sectors. According to the latest JobSpeak Index, there has been a robust rise in employment opportunities, with organized sector hiring showing a 10% increase compared to the previous year. Here are the key highlights:

Sector-wise Hiring Surge:
The festive season led to notable growth in specific sectors. The oil and gas industry saw an impressive 18% increase in hiring, while the pharmaceutical and biotech sectors experienced a 12% rise. Fast-Moving Consumer Goods (FMCG) and Information Technology (IT) sectors followed closely, with hiring increases of 8% and 6%, respectively. This surge indicates a strong demand for skilled professionals as companies ramp up operations to meet seasonal consumer demands.

Job Speak Index Records Growth:
The JobSpeak Index, which measures job postings, rose significantly in October 2023. The index reached 2,733 points, up from 2,484 points in October 2022, reflecting a year-on-year increase that underscores the positive trends in the job market during the festive season. This growth demonstrates employers’ willingness to invest in talent acquisition amid rising consumer demand and market optimism.