The Naukri Job Speak index for Nov-11 saw hiring activity move up across all sectors when compared to Oct-11; however the three month moving index indicates stability and a more consistent measure in the overall environment. The bounce back in the November index is indicative of a seasonal spike.In November most industries increased their recruitment numbers, post the festive season lull. Therefore, while we do witness a double digit percentage hike in hiring numbers in Nov-11 over Oct-11, but when compared with earlier months the indices are mostly steady.
Hitesh Oberoi, CEO and MD, Info Edge said “The Naukri Hiring Index bounced back sharply in November after hitting a 12 month seasonal low in October due to the festival season. It remains to be seen whether this bounce back sustains or is just a temporary surge as companies make up for the lack of hiring in October.”
Industry Sector Analysis:
A deeper analysis of the index shows that Nov-11 has been good in terms of hiring. The festive season had a major impact on recruitment activity and this has recovered in November. Hiring activity in the Construction, Auto and Banking sectors was similar to Sep-11 but was 20% , 34% and 21% higher than Oct-11. IT- Software, BPO and Telecom sectors on the other hand exhibited strong hiring trends with the job speak indices moving up by 29%, 18% and 14% in Nov-11 over Oct-11. The three month moving average index however indicates a more stable scenario.
Functional Area Analysis:
A month on month analysis of key functional areas shows that the demand for professionals in Production and Software services moved up by 30% in Nov-11 over Oct-11. The demand for professionals in Sales, Accounts and HR moved up by 35%, 31% and 22% respectively over the same time period. The three month moving average indices however for the same sectors shows a marginal increase by 2%, 4% and 1% in Nov-11 over Oct-11.
City Wise Analysis:
All top metros of the country witnessed strong hiring trends when compared with the festive month of Oct-11. This trend could be purely seasonal as the three month moving average indices indicate a steady and more stable hiring scenario. Delhi, Mumbai and Bangalore saw hiring activity pick up by 39%, 37% and 31% respectively in Nov-11 when compared to Oct-11. Chennai and Kolkata saw their job speak index pick up by 18% and 22% during the same time period.
Also read:
Log on to: www.flame.org.in
Also Log onto Flame Knowledge Centre