Hiring activity grows 1% annually in February: Naukri.com

The overall hiring activity saw a moderate 1 per cent rise in February over the year ago and the job market is expected to be volatile for the next few months, says a Naukri.com report.

The Naukri JobSpeak index for February stood at 1,960, a 1 per cent rise on a yearly basis and 15 per cent jump month on month.

"Though the JobSpeak index has shown just a 1 per cent year-on-year growth in February, the good news is the month-on-month growth of over 15 per cent in February compared to January 2017. We can expect the job market to be volatile for the next few months before it tends to move north again," Naukri.Com Chief Sales Officer V Suresh said.

Month-on-month, however, the IT-software industry saw an 8 per cent growth in February while BPO/ITeS logged a 21 per cent increase and the oil and gas and power 19 per cent.

A city-wise analysis showed that the increase in hiring activity in major metro cities in February has contributed to the overall rise in the job market.

The index for Delhi-NCR, Mumbai, Bengaluru, and Chennai saw a growth of 20 per cent, 14 per cent, 12 per cent and 11 per cent, respectively, compared to the previous month.

In terms of experience, the maximum number of new jobs were created in 8-12 years and 13-16 years categories.

The senior management hiring grew, with jobs for over 16 years of experience recording a growth of 13 per cent compared to January this year, the report said.

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 1,000 and the subsequent monthly index is compared to data for July.