Media and Entertainment industry witnesses 10% YoY rise in job recruitment in August: Naukri data
Artificial Intelligence and Machine Learning (AI/ML) jobs witnessed a 14% spike in August 2024. Additionally, the hiring in the FMCG and Pharma sectors remained strong as per Naukri JobSpeak Index
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The Media and Entertainment industry saw a 10% YoY increase in job recruitment in August 2024 as per the latest data from hiring platform Naukri.com.
According to Naukri JobSpeak August 2024 report, covering only white-collar jobs (excluding campus placement, hyperlocal hiring, and the gig economy), mentioned that the job index point for the media and entertainment industry stood at 437 last month of the current calendar year as against 397 points in August 2023. However, hiring in this sector saw a 17.2% decline on a month-on-month basis. In July 2024, the Naukri JobSpeak Index for the Media and Entertainment industry was at 528 point.
During the subdued job market, Artificial Intelligence and Machine Learning (AI/ML) jobs witnessed a 14% spike in August 2024 at 1454 points as against 1280 in the same month last year.
Additionally, the hiring in the FMCG and Pharma sectors remained strong as per the data. The FMCG sector saw an 11% year-on-year growth, driven by strong performances in Bengaluru and Kolkata. The pharma sector grew by 9% YoY with Baroda registering 44% growth in August 2024. On the other hand, the hiring dwindled in the retail and telecom sectors by 8% and 13%, respectively in August this year to 1,420 points as per the Naukri JobSpeak Index.
Further, the data underscored that fresher recruitment remained strong in Kochi, Baroda, and Coimbatore as compared to key metro cities such as Bengaluru, Delhi, and Mumbai. Notably, startups and unicorns outpaced foreign MNCs and Global Capability Centers (GCCs) in hiring in Bengaluru. Chennai showed signs of following a similar trajectory, while Hyderabad presented a mixed picture with startups and GCCs leading in recruitment over MNCs.
There was a seven percent decline in job opportunities for professionals with experience of 0-3 years as compared to August 2023. However, an 11% growth was witnessed in hiring professionals with more than 16 years of experience in August 2024.
