January 7 2009
Monthly Update:
- The Overall Job Index fell from 1000 in July 2008 to 776 in November 2008, a marginal decline from 781 in October 2008.
- Pharma and Telecom sectors continue to see growth in job opportunities.
According to the report 'JobSpeak' released by Naukri.com, India's No.1 Job Site, the Overall Job Index in November 2008 is 776 as compared to 1000 in July 2008 indicating a decline of almost 22.4%.
On the report, Hitesh Oberoi, COO and Director, Info Edge (India) Ltd said, "There is not much impact on the index, as compared to October, despite the seasonality waning off. The sentiment remains subdued and seems to be bottoming out at these levels"
The Overall Job Index fell from 781 in October 2008 to 776 in November 2008, a marginal decline as compared to the drop in previous months. The hiring scenario remained quiet post the festive season, as slowdown sieved through most industries. Mumbai remained subdued on hiring trends with the index hitting a low of 692.
Despite the slump, Pharma and Telecom have maintained stability at the July level. The worst affected sectors include Banking and Real Estate with a decline in jobs by almost 15% in November, compared with October. The demand for IT Hardware and Telecom professionals moved up by 13% during the month, while that for IT- Software and Business Development professionals moved up marginally.
The index has been calculated based on new jobs added to the site month on month. July 2008 has been taken as a base month with a score of 1000 and August, September, October and November index is compared with the July data.
City-wise Analysis
Delhi, Jaipur and Chandigarh saw an upward movement in jobs, while Bangalore, Chennai, Hyderabad, Kolkata and Pune remained stable at the October levels indicating stability in creation of new jobs. For Delhi – NCR, the index indicates an increase in new jobs, the index went up from 786 in October to 841 in November. Mumbai saw a greater dip in November as compared to October with the index dipping to 692.
Industry wise analysis
The index remained at October levels for most industries The index of IT – Software & Hardware, Oil and Gas, FMCG sectors picked up marginally. Pharma and Telecom have been most robust with higher job availability. Niche sectors like Government, Security Services and Legal continued to see an increase in new jobs as compared to July, though at a lower pace as compared to October 2008.
Banking and Financial Sector dipped further to 598 in November from 689 in October, reflecting a 40% decline since July. Real Estate, has also been severely affected and has seen a decline in new jobs by almost 50% since July.
Functional Area /Department Analysis
The index saw a marginal change in hiring as compared to October across most functional areas. IT Hardware and Telecom professionals witnessed an increase in new jobs by over 10% with the index moving up from 786 in October to 887 in November 2008. Sales and Business development professionals see a marginal increase in demand as compared to October. Banking and Insurance moved further down from 708 in October 2008 to 680 to November 2008.
Methodology Adopted
Data has been sourced from Naukri.com and is reflective of the new job listings added on the site. Jobs have been categorised by location, functional area and industry. The index has been calculated across Cities/ Functional Area - Deptt / Industry verticals.
On the basis of new job listings added to the site every month, the data shows an increase or decline in jobs. To calculate the index, jobs in July 2008 have been taken on a base of 1000. The August, September and October data has been indexed against July 2008. The report produced monthly will show hiring trends across industry sectors, geography and functional areas. More than 32500 clients use Naukri.com, leading to high reliability of the data.
About Naukri.com
Naukri.com, India's No. 1 job site and the flagship brand of Info Edge revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen exponential growth year after year. Info Edge completed a successful IPO in November 2006 and became the first internet company to be listed in India.
Naukri.com is a recruitment platform and provides services to the corporate world, placement agencies and job seekers in India and overseas. It offers a bouquet of products like Resume Database Access, and Response Management tools and its services include Job Postings, and branding solutions on the site. With 2,00,000 jobs live at any point, Naukri.com serviced over 32500 corporate clients in 2007-2008.
The company has over 1700 people operating through 67 offices in 41 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
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