Job New Update: Job opportunities will increase in the new year, companies will do 8.3 percent more hiring in 2024

Hiring In 2024: There is good news for those who are thinking of changing jobs or looking for a new job in the new year 2024. There are signs of improvement in hiring in the job market in 2024. There has been a 2 percent jump in hiring in December 2023, after which it is expected that there may be a growth of 8.3 percent in hiring in 2024. 

According to FoundIt Annual Trends Report, there may be a jump of 8.3 percent in total hiring in 2024, in which Bengaluru will see the highest hiring of 11 percent. According to the report, this year maximum hiring can be seen in manufacturing, BFSE, automotive, retail and travel tourism sectors. 

According to data from FoundIt Inside Tracker (FIT), 2023 was not a good year from the perspective of hiring activity. Hiring activity in 2023 was 5 percent less than in 2022. According to the report, there has been a 2 percent jump in the hiring index in the last month of the year, after which a rapid pace of hiring activity may be seen in 2024. The report said, the economy showed a turnaround by the end of 2023 , breaking the previous trend that had been in place since mid-2022. The job market entered a phase of transition where both attrition and hiring rates stabilized. 

According to the report, despite fewer job opportunities, the imbalance between job creation and hiring reflects the ongoing difficulties for companies in finding the right talent. It said that some sectors showed remarkable strength and growth in 2023 and which succeeded amid the challenging environment. The maritime and shipping industry saw an increase of 28 percent in hiring. Retail, travel and tourism saw a growth of 25 percent, while advertising, market resources, and public relations sectors saw a jump of 18 percent.