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| India Inc's hiring spree in Oct hit by festivals |
| Press Trust of India / New Delhi Nov 24, 2009, 17:54 IST |
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India Inc's hiring activity is on a recovery path but the month of October, being full of festive holidays, witnessed nearly 4 per cent decline from the previous month, a report by job portal Naukri.com says.
The Naukri.com's monthly 'JobSpeak index' stood at 701 in October, down 3.9 per cent from the previous month.
"October figures are down on September due to seasonality and holidays due to festivals," Info Edge (owner of Naukri.com) Chief Financial Officer Ambarish Raghuvanshi said adding that "numbers are on expected lines".
Raghuvanshi said, "Indications are that the economic slowdown and hiring have bottomed out. We are now in the recovery stage as far as hiring is concerned."
A city-wise analysis shows that five out of top eight cities in the country have seen an upward trend in hiring, though Mumbai and Pune witnessed decline.
For the period under consideration, hiring activity in Delhi-NCR and Kolkata rose 2 per cent and 1.43 per cent, respectively. For Chennai it was 7.05 per cent, Bangalore 3.33 per cent and Hyderabad 6.65 per cent.
In the tier-II segment, Coimbatore recorded 4.73 per cent growth in hiring activity in October, compared to September.
However, for Mumbai and Pune the index fell 9 per cent and 2.38 per cent respectively in October on month-on-month basis.
Meanwhile, though the hiring activity went down across all experience levels, the demand for ITeS/BPO and pharma/ healthcare professionals showed a positive trend. Also people with nil or up to three years of experience faced little trouble in finding jobs.
Hiring activity in the ITeS and BPO space saw an increase of 4.4 per cent in October, compared to September 2009. Banking and healthcare also witnessed an increase in the hiring activity by 4.1 per cent and 12.43 per cent each in October 2009 from September 2009.
Hiring activity in the Oil and Gas sector bounced back in the reviewed month with 4.8 per cent increase over September, while, telecom, auto/auto ancillary and pharma/biotech sectors witnessed lower hiring activity by 15 per cent, 8.9 per cent and 7.5 per cent, respectively.
The job index has been calculated on the basis of job listings added to the website on month-on-month basis with July 2008 been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008.
The data has been sourced from Naukri.com and it reflects job listings and therefore hiring trends on the site.
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