Bolstered by a robust business environment, an increase in warehousing and industrial demands, growing commercial housing needs due to expanding migration, and the establishment of new manufacturing plants, the construction and real estate sectors are experiencing considerable growth.
Employment Surge: Between March 2023 and March 2024, there has been a remarkable 86% upswing in the number of employees within the real estate and construction domains. Data from Indeed indicates this surge in demand coincides with a 57% elevation in job seekers exhibiting heightened interest, with Delhi, Bengaluru, and Mumbai at the forefront.
Hiring Rates: According to figures provided by Indeed, Delhi showcased the highest construction hiring rate at 5.05%, closely trailed by Bengaluru at 4.68%, and Mumbai securing a respectable 4.13%. It is plausible that several converging factors contribute to this intensifying trend, including a resilient business landscape, a marked surge in warehousing and industrial infrastructural requirements, increased commercial housing demands mirroring escalating migration patterns, alongside the inauguration of novel manufacturing facilities.
Emerging Cities: "Smaller cities such as Ernakulum (2%), Kochi (1.50%), Lucknow (1.38%), and Calicut (1.25%) are among the top regions attracting job seekers’ attention. This trend could be attributed to low living costs or local job opportunities that allow people to work closer to home. Indeed lists Ernakulum, Calicut, and Kochi as Tier 2 and 3 cities with the most job postings."
Professions in Demand: Job postings reveal that engineers are highly sought after, representing 17.18% of the demand, followed by project leads and supervisors constituting 8%, and architects at 5%. Aligning with these demands, job seekers are keenly interested in engineering roles (21.31%), project lead and supervisory positions making up 9.33%, and architectural roles accounting for 4.27%. As the complexities and technicalities intrinsic to construction amplify, the industry necessitates a greater influx of adept and skilled personnel.
Expert Perspectives: According to the findings, Sashi Kumar, head of sales at Indeed India, stated, “The construction industry continues to be a key driver of economic growth, providing enormous opportunities for skilled professionals and semi-skilled labor. The significant increase in hiring points to promising prospects for job seekers and employers, while the increase in job seeker interest reflects the industry’s strong momentum.”