Job street buzzing again; hiring index jumps 8% in Nov
India Inc`s hiring activity picked up significantly in November with a positive trend seen across sectors amid improving business sentiment, a report by leading job portal Naukri.com says.
New Delhi: India Inc`s hiring activity picked up significantly in November with a positive trend seen across sectors amid improving business sentiment, a report by leading job portal Naukri.com says.
Naukri.com`s monthly JobSpeak index climbed to 760 in November, registering a growth of 8.4 percent compared to 701 in the previous month.
This is the highest level the job index has touched since March 2009, indicating a buoyant hiring sentiment across industries and experience buckets, the report said.
Hiring saw a significant push in the country in November across all sectors with auto, insurance and telecom sectors witnessing a double-digit percentage growth.
The insurance sector has been the most bullish on hiring with a sectoral index of 1,033, surpassing the July 2008 levels (July `08 represents the start of the index and was taken at a base of 1000), the report stated.
"As this year heads towards an optimistic finish, new horizons seem to ensure a promising year ahead. These are reflected in an improved and encouraging business sentiment indicating there has been a steady revival at the job scenario," Info Edge National Marketing and Communications Head Sumeet Singh said.
The next step is to look for a contained momentum towards recovery, Singh added.
The composite three-month moving average has also inched up to 783 in November from 761 in October 2009.
Hiring in auto/auto ancillary, insurance and telecom spaces, which had seen their sectoral job indices dip in October were up 17.38 percent, 22.98 percent and 19.29 percent, respectively in November.
IT and Oil and Gas sectors saw an increase in hiring by five percent and 8.8 percent, respectively indicating a comeback in hiring activity, the report said.
A city wise analysis again indicates positive hiring sentiment across India with nine out of top 13 cities showing an increase in the job index.
Hiring activity in Pune picked up by 18.04 percent in November compared to October, after dipping for four months in succession.
Delhi, Mumbai, Hyderabad and Bangalore witnessed a growth in hiring activity by 4.82 percent, 9.93 percent, 11.21 percent and 8.46 percent in November, the report added.
Meanwhile, in the tier-II segment, Coimbatore and Chandigarh witnessed a decline in hiring activity by 14.26 percent and 10.07 percent, respectively, in November.
The job index has been calculated on the basis of job listings added to the website month on month, with July 2008 been taken as the base month with a score of 1,000 and the subsequent monthly index compared with it.
The data has been sourced from Naukri.com and reflects job listings and, therefore, hiring trends on the site.