July 20 2011
Naukri Job Speak index for June-11 grows by 19% as compared to the previous year and 4% as compared to May-11, signaling sustained recruitment -market dynamics
- Both IT and ITES sectors index moved up by 12% respectively in June-11 over May-11
- Key functional areas like Software services and Sales registered an upward movement in hiring activity in June-11
- Pharma and Biotech sectors grew by 9.83 % in the last one year
- Insurance sector looked up with a growth of 7.22 % in June-11 over May-11
- The Telecom sector saw a 17% dip in the hiring activity in June-11, the maximum dip for the sector in the last one year
Corporate India continues to be on a hiring spree signaling an upbeat market, though the analysis of key economic indicators over the last quarter suggests some signs of weakness in overall economic activity. India’s GDP grew by 7.8% during Q4 FY11, recording its slowest growth in five quarters.
Hiring activity continues to move at a brisk pace as indicated by the Naukri Job Speak index for June-11 which moved up by 19% as compared to the previous year and 4% as compared to May-11. This indicates that there is no slackening on the recruitment front and across almost all sectors are hiring at a steady pace.
“The talent market is driven by demand and supply. While it is possible that the slowdown in economic activity may lead to a lower pace of hiring, supply side issues are more structural and therefore short-lived. Thus economic slowdown may not necessarily affect the pace of hiring abating“said Hitesh Oberoi, Managing Director and CEO, Info Edge India
Industry Sector Analysis:
An in-depth analysis of the job index shows that both Banking and Capital Goods sectors have seen movement in their recruitment front, as their indices moved up by 9% and 7% respectively in June-11 as compared to the previous month. Hiring activity for the Pharma sector has also been upbeat, as the index moved up by 9% in June-11 as compared to the previous month. Construction, Auto and Oil & Gas sector maintained steady hiring levels this month while Telecom saw a dip of 17% in hiring activity when compared to May-11. However the three month moving average index for the Telecom sector indicates stability in the hiring environment. As indicated above IT and ITES sectors have seen momentum in hiring activity with their indices moving up by 12% respectively in June-11 over May-11.
Functional Area Analysis:
The hottest skill sets for the month of May-11 were professionals in ITES, Sales and Software services as their index moved up 11%, 9.5% and 9% respectively in June-11 over May-11. Professionals in Production and Accounts saw steady hiring levels while the demand for professionals in HR and Marketing saw a 4% and 8% dip in their hiring activity.
The three month moving average indices also show buoyancy in the environment as the demand for professionals across functional areas have moved up.
City Wise Analysis:
Hiring activity for Hyderabad, Bangalore and Chennai moved up by 15%, 10% and 9% respectively in June-11 as compared to May-11. Hiring activity for Mumbai moved up by 3% while Pune witnessed steady hiring levels. However, the job index for Kolkata and Delhi dipped by 6% and 4% respectively in Jun-11 over May-11.
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 was the first internet Company to list in India. The site enjoys a traffic share of around 54% as per the June Comscore data.
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 230000 jobs live at any point, Naukri.com serviced over 42000 corporate clients in 2010-2011.
The company has over 1700 people operating through 53 offices in 34 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
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