Recruitments turn sluggish in August

Naukri.com's monthly job index dropped to 1,145 in August from 1,197 in July, a dip of 4%

Hirings declined last month, especially in telecom and insurance sectors, as companies exercised caution amid challenging economic conditions, says a report.

Leading job portal Naukri.com's monthly job index dropped to 1,145 in August from 1,197 in July.

The index indicates a sense of hiring activities online.

"The overall recruitment market in the economy is very challenging and most recruiters are staffing smartly and are opting for replacement hiring instead of recruiting new members. However hiring has severely been affected in sectors like telecom, insurance and BPO," Info Edge India Managing Director and CEO Hitesh Oberoi said in a statement today.

Naukri.Com is part of Info Edge group.

According to the statement, the downward trend indicates that employers are embracing a cautious approach in hiring activity as economic uncertainties and inflationary pressure continue to weigh on their sentiment.

"Key industry sectors like IT- software, oil & gas, pharma and auto sectors have seen dip in hiring figures continuously for the last two months," it noted.

Naukri.Com noted that the index after remaining flat for consecutive five months has seen a 4% dip in August when compared to July.