Hiring activity muted across sectors in May: Naukri

Recruitment trends remained muted across industries last month compared to April with the exception of IT and ITeS sectors which logged double digit growth in hiring, says a report by Naukri.com. However, on year-on-year basis the hiring activity in May rose 14 percent, compared to the same month last year. According to the report, Naukri Job Speak Index stood at 1,600 for May 2014, a stable hiring scenario compared to the previous month. “Hiring activity is seeing a period of stability. Since the elections are now over and we have a stable government at the center, we expect companies to start recruiting in the coming months,” Info Edge (India) MD and CEO Hitesh Oberoi said. The job portal is owned by Info Edge. Industry-wise, the “hiring sentiment was muted across all the major sectors” except ITeS and IT sector which saw 15 percent and 10 percent growth respectively in hiring last month over April, the report said. Oil & Gas have also saw increase in hiring by 3 percent month-on-month. According to the report, the insurance sector has witnessed the maximum decline with the index moving down by 30 percent in May against April. It was followed by pharmaceutical and telecom sector which saw a downward spiral with the index moving down by 8 percent each for the period under review. Other sectors like BFSI have seen a decline of 5 percent while construction & engineering and auto has seen a dip of 3 percent in the same period. Amongst cities, Chennai and Hyderabad saw the highest and second highest growth in the Naukri Job Speak Index in May against April. Bangalore witnessed growth with the index moving up by 5 percent, while Mumbai has seen a growth of 2 percent. Northern and Eastern region has seen dip with Delhi-NCR region and Kolkata seeing a decline of 21 percent and 19 percent each respectively for the period under review. Meanwhile, the report said that demand for professionals working in BPO and IT saw the maximum growth at 11 percent and 10 percent respectively month-on-month. “Professionals working in banking and insurance have seen maximum decline with the Naukri Job Speak Index moving down by 27 percent while marketing and advertising has seen a dip of 17 percent in the same period,” it added. Naukri.com is a recruitment platform that provides hiring-related services to corporates/recruiters, placement agencies and to job seekers in India and overseas.

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