With new government, hiring is stabilising: Report

E-recruitment firm Naukri.com Thursday said it expects the hiring sentiment to grow in the coming months due to confidence returning in the economy as a new and stable government has taken charge at the centre.

"Hiring activity is seeing a period of stability. Since the elections are now over and we have a stable government at the centre, we expect companies to start recruiting in the coming months," said Hitesh Oberoi, managing director and chief executive, Info Edge, the company which owns Naukri brand.

According to the online job portal, its monthly Job Speak report for May indicated a higher level of hiring activities. It reported an increase of 14 percent in hiring activity last month as compared to May 2013.

The company has more than 230,000 job listings on its portal.

Sector-wise, the company said that hiring sentiment was muted across all major sectors, except ITES (information technology enabled services) and IT (information technology) sector.

ITES sector's hiring activity moved up by 15 percent month-on-month followed by IT sector which was up 10 percent and oil and gas sector growing at three percent.

However, insurance sector's hiring activity witnessed a maximum decline with the index moving down by 30 percent month-on-month.

"It (insurance sector) was followed by pharma and telecom sector, which saw a downward spiral with the index moving down by eight percent each," the report said.

City-wise southern region has een maximum growth in hiring activity lead by Chennai, Hyderabad and Bangalore.

While marginal growth was observed in Mumbai and Pune, hiring activity has dipped in northern and eastern regions with Delhi-NCR region and Kolkata seeing a decline of 21 percent and 19 percent respectively.