Legal sector leads with 24% hiring boost YoY

This is amidst the overall market adjustment. 

The legal sector recorded a 24% year-on-year (YoY) increase in hiring activity and a 2% month-on-month (MoM) rise, according to foundit Insights Tracker (fit). 

A MoM analysis indicated a 2% increase, with a recorded index of 109 in May, suggesting that the legal sector leads the way as businesses are resuming hiring activities post-economic adjustments. 

However, the tracker also revealed an overall YoY decline of 9% in hiring activity across sectors, as the index dropped from 122 to 111 this year. 

“While the overall job market continues to navigate through economic adjustments, the Legal sector's performance is a bright spot, indicating areas of opportunity and growth,” said Sekhar Garisa, chief executive officer of foundit. 

“This trend, coupled with the overall month-on-month increase in hiring activity, suggests a gradual recovery and adaptation of the job market to new economic realities,” he added. 

The IT, Telecom/ISP, and BPO/ITES industry, along with the Hospitality sector, also showed positive trends with a 3% MoM growth each in June. 

This was driven by businesses increasingly integrating AI and Machine Learning into their operations to enhance automation, efficiency, and insights, as well as a gradual recovery in the tourism and hospitality sectors.

The BFSI sector also experienced a 2% increase in hiring demand over the last month, with interest in roles such as Compliance Officers, Risk Managers, and Legal Experts.

Other sectors showing positive growth include Advertising, Market Research, Public Relations, Media, and Entertainment (2%), Retail/Trade and Logistics (2%), and Healthcare (2%).