September 2 2010
- Chennai saw 7% growth in recruitment levels in Aug-10 as compared to Jul-10, while recruitment in other cities was steady
- The Banking and Financial sector witnessed robust hiring in Aug-10 with the index for the sector surpassing the July-08 levels for the first time
- There was increased demand for Professionals in Banking and Engineering in Aug-10
A spurt in the economic growth and improved business confidence resulted in a 28% growth in hiring activity in the month of August as against the same period over a year ago. If we compare recruitment levels of Aug-10 over the previous month the index inched down marginally from 963 in Jul-10 to 956 in Aug-10. The trend shows that recruitment is back on track and most sectors are on a continued hiring momentum.
Hitesh Oberoi, CEO and MD, Info Edge said “Stability in hiring activity across industries, functional areas and cities echoes continued optimism. Job seekers can therefore look forward to a favourable second half of the year, with sectors like Banking, ITES and Construction taking a lead in job creation”.
A detailed analysis of the job index reveals that 5 out of the top 10 industry sectors and 9 out of the top 10 functional areas registered positive monthly growth. Chennai witnessed the strongest hiring trend among all cities with its index at 905 being the highest in the last one year. All other cities were on a stable hiring mode. With the inflation figures hovering around all time highs, this positive hiring scenario would surely lessen the stress of the jobseeker as his probability of finding the right job increases manifold.
Industry Analysis: Banking, ITES and Construction sectors saw an upward movement in the index in Aug-10 as compared to July-10
Key industry sectors like Banking, ITES and Construction clocked impressive growth figures with the index moving up by 14%, 6% and 5% respectively in Aug-10 over Jul-10. While the IT- Software sector maintained stable hiring levels, hiring activity in IT- hardware moved up by 5% in Aug-10 over July-10.
On the contrary, the Insurance sector witnessed the steepest monthly decline of 40% in Aug-10 as compared to Jul-10. Similarly, hiring activity in the Telecom, Oil & Gas and Pharma sectors dipped by 7%, 8% and 14% respectively over the same time period. However, the three month moving average indices of the above mentioned sectors exhibit steady growth trends in Aug-10 over Jul-10.
Functional Area / Department Analysis: August-10 saw upward moving indices across key Functional areas
The hottest skill sets for the month of August were Engineering and Banking where the index moved up by 10% and 6% respectively in Aug-10 over Jul-10. The demand for Professionals in IT- Software, Production and HR saw steady increases in their indices for the past three months with the Aug-10 index moving up by 2% respectively over Jul-10.
Meanwhile, Sales and Business Development was the only functional area which registered a notable dip of 14% in Aug-10 as compared Jul-10.
City wise Analysis: All top cities exhibit strong monthly growths in their job indices in Aug-10 as compared to Jul-10
Chennai and Pune witnessed an upsurge in Jobs in Aug-10 with their job indices moving up by 7% and 5% respectively over Jul-10. Similarly, Bangalore and Kolkata continued their hiring momentum with their Aug-10 index inching by 2% over Jul-10.
Most of the other cities including Delhi-NCR, Mumbai and Hyderabad saw steady recruitment levels over the same time period.
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 while outperforming its competitors in every sphere. Info Edge is the first internet Company to be listed 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 recruiter branding solutions on the site. With 200000 jobs live at any point, Naukri.com serviced over 35500 corporate clients in 2009-2010.
The company has over 1700 people operating through 49 offices in 32 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
Send to a Friend
Print This Page
