September witnessed a mixed hiring sentiment across India Inc. Some sectors like construction, insurance and auto witnessed stable hiring levels, while sectors like it, BPO and banking have seen a drop in hiring levels in September when compared to August this year. Overall, the job speak index has been dipping consecutively for the last three months.Hiring levels for September are 6% lower than what it was three months ago.
“The job market has considerably slowed down over the last six months and key sectors are adopting a cautious hiring approach. The job market will hopefully start looking up once the GDP growth picks up momentum,” said Hitesh Oberoi, MD and CEO, Info Edge India.
Last month, the hiring activity did not see much action for key sectors like auto, pharma, oil & gas telecom, and hospitality, indicating that recruiters are adopting a wait and watch mode. Although construction sector is one of worst affected sectors and has been consecutively witnessing low hiring numbers for the past one year, the recruitment trends for last month show hiring activity picked up by 11% when compared to August. IT and BPO companies have also seen lower hiring numbers with the index going down by 3% and 4% respectively in Sep-12 over Aug-12.
Mirroring hiring trends of IT and BPO sector, the demand for professionals working in these sectors saw hiring levels dip by 4% in the last three months. Production and accounts sector professionals saw a marginal 2% increase in their hiring numbers, while HR and banking professionals saw no movement in the recruitment front over the last one year.
A city wise analysis shows that all the top cities have seen lower hiring numbers over the last one month, barring Hyderabad and Pune which saw stable hiring levels. Mumbai, Bengaluru and Chennai saw hiring activity dip by 5% in the last three months. Delhi saw a marginal 1% dip in hiring in September when compared to August, while Kolkata saw a 17% dip, after three months of consecutive upward movement in the index.
Source: The Economic Times