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Covid, Monkeypox Scare Boosts Hiring in Insurance Sector

The advent of the Covid-19 pandemic and the more recent monkeypox has come as a boon for job seekers in the insurance sector.

With the rise in demand for health insurance products, the sector registered more than 21 percent growth in hiring activity in July 2022 compared to last year, a report showed on Thursday.

Hiring activity growth was also seen in sectors such as oil and gas/power (18 percent), and IT software (16 percent) in July 2022, according to data from Naukri JobSpeak Index for July.

The data showed that the job market in India continues with its upward trajectory.

Other sectors that continued to show an upward trend over July last year, included travel and hospitality (68 percent), banking (59 percent), retail (37 percent), BPO (35 percent), auto (34 percent), education (32 percent), telecom (32 percent), and IT-Software (7 percent).

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The report “validates that the employment market is on a steady course without any significant hotspots,” said Pawan Goyal, Chief Business Officer, Naukri.com, in a statement.

“The trend in growth is seen across most industries, cities, and experience bands which is great news for the job seekers,” he added.

Since the beginning of 2022, most key centers have been exhibiting positive hiring sentiment by registering an upward trend and marking double-digit growth.

Among metros, Kolkata led the charts with 42 percent year-on-year growth in July’22. Other metros such as Mumbai (36 percent), Delhi/NCR (25 percent), Chennai (25 percent), Pune (24 percent), Hyderabad (12 percent), and Bengaluru (10 percent) too, continue to show positive growth in June’22 vs last year.

Further, the demand for top management (more than 16 years) and professionals with 13-16 years of experience saw the steepest uptick of 32 percent and 31 percent, respectively in July’22 vs July’21.

In addition, a positive hiring sentiment was also observed for other experience brackets such as 0-3 years (20 percent), 4-7 years (18 percent), and 8-12 years (24 percent) when compared with July’21.

 

 

 

 

 

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