Naukri JobSpeak Index reveals rising trend in employment in India

The Naukri JobSpeak Index (NJSI) brings a fresh perspective on the formal jobs market situation in India, alongside payroll data from the Employment Provident Fund and the National Pension Scheme. The Naukri JobSpeak data shows how formal employment in the country has increased since 2008. 

The index had climbed steadily from 798.4 in FY2010 (ending March 2010), to 2,274.9 in FY2020, but the pandemic has lowered it to 1,639.6, registering a yearly decline for the first time on record.

Despite the ups and downs in the economic cycle, the index has trended upwards since its introduction. Interestingly, in FY2019, the yearly growth rate of the Naukri JobSpeak Index increased to 12.1% and then decelerated to 5.85% y/y in FY2020.

Source: CEIC, Naukri.com