Growth in demand for talent in e-commerce, BFSI and hospitality industry in Q1 2024: report

Thursday’s report showed that the demand for talent increased in the e-commerce, BFSI (banking, financial services and insurance) and hospitality sectors in the first four months of 2024, indicating a recovery in the overall labor market.

Buoyed by economic recovery, the manpower requirement in BFSI has increased by a maximum of 21% in the first four months of this calendar year. According to a report by professional networking platform Apna, the e-commerce sector grew by 17%, the service and hospitality industry saw a growth of 13%.

The report was based on data from the Apna platform for 2023 and 2024.

It also found that the job market in the southern part of India recorded a growth of 23% compared to 18% last year, with cities such as Hyderabad, Bengaluru and Chennai leading the way in terms of total job openings.

The adoption of digitalization is becoming more visible in tier II and III cities such as Lucknow, Coimbatore and Gwalior, which are witnessing an increase in job opportunities.

Cities like Hyderabad, Bengaluru and Chennai are at the forefront of labor market development. This trend shows the strength of the labor market in South India and highlights the growing opportunities driven by digitalization.

“From vibrant metropolitan areas to emerging Tier II and III cities like Lucknow, Coimbatore and Gwalior, our platform reflects the dynamic landscape, offering promising prospects to job seekers across the country,” said apna.co CEO and Founder Nirmit Parikh.

During the reporting period, the platform saw a 21% year-over-year increase in job applications from newbies and an 18% increase from female job seekers.

The total number of applications received during the period was around 1.7 crore, an increase of 15% over last year, the report added.