Hiring activity sees 18% growth in February: Naukri Job Speak Index

Hiring activity registered a 18% growth last month, largely driven by IT-software and insurance sectors and the job market outlook looks bullish too, says a report.

The Naukri Job Speak Index for February 2016 stood at 1,937, recording an increase of 18% in hiring activity over same month last year.

"As predicted earlier, job market seems to sustain the momentum gained over the last few quarters and is heading north with 18% growth in February 2016," Naukri.com Chief Sales Officer V Suresh said.

Sectorwise, IT-software and insurance witnessed 28% growth followed by ITES 17% and telecom 6%, while hiring remained positive for most parts of the period (February 2015 - February 2016).

A negative hiring sentiment was recorded in BFSI, where the period started on a positive note and despite spurts of growth during the year, ended with a decline of (-) 5% last month, the report said.

Meanwhile, demand for professionals in top sectors also recorded positive movement. IT-software recorded an increased demand of 21% in hiring professionals, for ITES executives it was 26% and for sales professionals it was 15%.

"Looking at the consistency and pace at which the index is moving over the past few months, I am cautiously optimistic that we are at the cusp of a solid growth phase and good times are ahead for jobseekers," Suresh added.

A city-wise analysis shows that all metro cities registered an increase in hiring activity in February this year over same month last year.

Mumbai leads the race with 24% growth, followed by Delhi, NCR and Bengaluru at 23% and 22% respectively.

Kolkata records a growth of 21% and Hyderabad, Pune and Chennai witnessed growth of 15%, 13% and 12% respectively, the report added.