Overall Hiring Activity in India Reported 2% Decline in January 2017

February 20, 20178:59 am789 views

In an overall buoyant job market, Jan 2017 recorded growth in jobs beyond the top metro cities, when compared with Jan 2016. The Index recording a YOY increase of 3%, from 1659 in Dec 2016 to 1707 in Jan 2017. Within top metros Delhi/NCR, Mumbai and Bengaluru witnessed a decline in hiring activity of 11%, 8% and 6% respectively, according to the latest Naukri.com Jobspeak Index.

Amongst other metros, the jobs index recorded a growth of 3 percent in Hyderabad and Chennai, 15 percent in Pune and 24 percent in Ahmedabad when compared y-o-y. Commenting on the report, V. Suresh, Chief Sales Officer, Naukri.com said, “The Jobspeak Index has shown a small annual decrease of 2% in Jan 17. Due to uncertainty across the board some of the key sectors have shown negative growth and while there are a few positive signals, this trend may continue for a few more months.”

Hiring across sectors

The IT-Software Industry in India has been buoyant with no visible impact in hiring of professionals. Insurance jobs also went up by 20 percent in the same time period. Banking and Financial services jobs saw 1 percent fall in Jan 2017, when compared to Jan 2016.

See: Increased Hiring Demand for Senior Professionals in India in 2017

While the Telecom/ISP industry saw a 23 percent slump, the BPO industry saw a 5 percent gain in Jan 2017 as compared to Jan 2016. Jobs in the Oil & Gas and Power, Infrastructure industry saw a 28 percent fall in Jan 2017 as compared to Jan 2016. Construction and Engineering jobs decreased by 10 percent during the same period.

Accounts/Finance and Production jobs decreased by 6 percent and 11 percent respectively since January 2016. Sales, Business Development and HR saw a 1 percent and 2 percent decrease respectively in Jan 2017 when compared to Jan 2016. Teaching and Education saw a 20 percent increase in January 2017, while hiring in Marketing and Advertising saw a 6 percent fall during the same period.

City-based Hiring Trends

Within top metros Delhi/NCR, Mumbai and Bengaluru witnessed a decline in hiring activity of 11 percent, 8 percent and 6 percent respectively. The jobs index recorded a growth of 3 percent in Hyderabad and Chennai, 15 percent in Pune and 24 percent in Ahmedabad when compared Year-over-Year.

Also read: Hiring Activity to Grow in India by 10% to 15% in 2017

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