February 17 2010
- The Job index at 743, indicates that hiring activity accelerated by 4% in Jan’10 as compared to Dec’09
- The index for Mumbai at 748 in Jan’10 is noted as the highest index for the city in the last one year
- Hiring activity witnessed rise across most sectors in Jan’10 after the holiday season lull in Dec‘09
- Professionals in IT, BPO, Sales and Accounts saw increased demand, while the demand for professionals in production and maintenance retracted
Naukri.com’s job index at 743 at the start of the New Year indicates renewed optimism in the environment and a happy start for both job seekers and recruiters. There is a shift in the declining trend of hiring activity towards a more stabilized market scenario as indicated by the recovering job index.
Sumeet Singh, National Head- Marketing and Communications, Info Edge said, “With the beginning of the new year, the employment marketplace seems to be moving in a more positive direction. The hiring momentum is expected to move up in most of the key industry sectors as compared to last year”.
A sectoral analysis clearly shows that the hiring activity for the top industry sectors is on the road to recovery. Recruitment in IT- software and ITES sectors picked up 10% and 17% in Jan’10 post the dip in Dec’09. In contrast, hiring went down by 5% in the Banking sector after three successive months of an upward moving index. All the metros have seen a surge in hiring in Jan’10 over Dec’09.
A year on year comparison of the city index reflects that the hiring activity in Delhi and Mumbai have picked up while other cities are on a continuous path of recovery. Similarly a year on year comparison top 5 industry sector index reflects that the hiring activity has started picking up in the Auto and Banking sectors while other sectors are also moving towards stability.
City wise Analysis: Six out of the top seven cities reflects a positive hiring index in Jan’10 over Dec’09
Almost all cities saw an increase in jobs in Jan’10 with the exception of Kolkata which saw a 6.5% dip in the job index in Jan’10 over Dec’09. Hiring activity in Chennai picked up by 9% inJan’10 compared to Dec’09, after dipping for two months in succession. Delhi, Bangalore, Hyderabad witnessed a growth in hiring activity by 4%, 8%, and 7% in January 2010 over Dec’09.
Industry Analysis: IT and ITES sectors have significantly moved up by 10% and 16% in Jan’10 over Dec’09
The hiring activity for the top industry sectors are back on track post the dip in the Dec index owing to the holiday season. Auto and the Oil and Gas sector have moved up by 4% and 3% in Jan’10 over Dec’09. In contrast, the Banking and Financial sector has seen a dip of 5% in Jan’10 after three consecutive months of an upward moving index.
Functional Area / Department Analysis: Demand for four out of the top five functional areas moved up in Jan’10 over Dec’09.
The hiring activity for four out of top five functional areas moved up in Jan’10 over Dec’09. Professionals in IT-Software and ITES saw an increase in hiring activity by 9% and 18% in Jan’10 over Dec’09.Athough the demand for banking and insurance professionals declined by 14% in Jan’10 the three month moving average index indicates stability.
Overall, the index seems to be moving in a positive direction. A similar sentiment was echoed in our recently released Naukri Hiring Outlook Survey where 72% of recruiters had said that new jobs will be created in 2010.
Methodology
The index has been calculated based on job listings added to the site month on month. July 2008 has been taken as the base month with a score of 1000 and the subsequent monthly index is compared with data for July 2008. Data has been sourced from Naukri.com and it reflects job listings and therefore hiring trends on the site. Jobs have been categorized by location, functional area, industry and experience buckets. The index has been analyzed across Cities/ Functional Area - Deptt / Industry verticals. The report (produced monthly) shows hiring trends across industry sectors, geography and functional areas. There might be high volatility in the case of smaller cities, niche industries and functional areas owing to a relatively small database. More than 34000 national and international clients used Naukri.com in 2008-2009, leading to high reliability of 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 continued growth. Info Edge completed a successful IPO in November 2006 and remains the only listed Internet Company in India.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple 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 34000 corporate clients in 2008-2009.
The company has over 1400 people operating through 54 offices in 37 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
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