Job Market Showing Signs Of Recovery; Online Hiring Sees Growth

Online hiring activity registered just 1 per cent rise in August over the year ago period, but eight of the 13 cities surveyed showing positive growth indicate signs of recovery, says a report by Naukri JobSpeak index for August which stood at 1,851, registering just 1 percent growth from August last year.

Major important industries like auto, construction and BFSI saw a growth of 11 per cent, 9 per cent and 5 per cent respectively in August this year.

V Suresh, Chief Sales Officer Naukri.com said "Good to see the job market showing signs of recovery. The JobSpeak index for August has shown a Y-o-Y growth of 1 per cent."

Suresh further added that the recovery seems to be spread across geographies with 8 of the 13 cities surveyed showing positive growth. The volatility in the market is likely to continue for few more months before it moves north.

Of the 13 key cities tracked, eight cities recorded an increase in hiring activity in August 2017 as against last year. The index for Delhi, Mumbai, Hyderabad and Chennai grew by 4 per cent, 1 per cent, 8 per cent and 5 per cent respectively while Bengaluru saw a dip of 3 per cent in hiring activity.

Industry wise, BPO/KPO jobs went up by 7 per cent while jobs in the IT-software services sector saw a dip of 6 per cent in August over last year.

In terms of experience, senior management roles with experience between 13-16 years saw a 6 per cent growth in August this year as compared to year ago period.

Jobs for entry level jobseekers having 0-3 years' experience increased by 3 per cent while junior level roles for jobseekers with 4-7 years of experience witnessed a 1 per cent dip in hiring, the report added.

Rajguru Tandon

BW Reporters The author is a correspondent with BW Businessworld with keen interest in HR and employee welfare.