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India Inc witnessed a 4% decline in recruitment in Nov-12 when compared to Oct-12 as most of the key industry sectors and functional areas saw dips in their hiring activity when compared to the previous month.
This dip can be attributed to the festive season spanning across the month as well as the uncertain economic outlook. There is some caution in the environment as the IT- Software sector which is the biggest job creator of the country has seen consecutive five months of dips in hiring activity.
Hitesh Oberoi, CEO and MD, Info Edge said A look at the index for the past three years shows that there is usually a dip in hiring during the festive season. However, this year recruiters are cautious and any short term recovery may not be sustained because of the uncertain economic background.
Industry Sector Analysis:
A detailed analysis of hiring activity shows that almost all key industry sectors have seen dipping indices in Nov-12 when compared to the previous month. Barring the Pharma sector where hiring picked up by 7% in Nov-12 over Oct-12 and Construction and BPO sector which saw stable hiring levels, all other sectors saw dips in hiring activity. The index for Telecom sector witnessed maximum negative movement of a 20% dip in Nov-12 when compared to Oct-12, while Auto, Insurance, Oil & Gas and Banking saw their hiring activity dip within the range of 5% and 9% respectively during the same time period. Hiring activity for the IT-Software sector dipped by 3% when compared to last month.
Functional Area Analysis:
Mirroring hiring trends of top industry sectors, the demand for professionals across key functional areas have dipped in Nov-12 when compared to Oct-12. Professionals in Project Management and Engineering Design saw hiring activity dip by 11% and 17% respectively on a month on month comparison. The demand for Accounts, Production and Marketing professionals also registered negative growth figures by 6%, 7% and 8% respectively during Nov-12 over Oct-12. The demand for BPO and HR professionals remained steady during the same time period
City Wise Analysis:
Among top cities only Kolkata and Hyderabad witnessed positive growth figures with hiring activity picking up by 5% and 15% respectively in Nov-12 when compared to Oct-12. Mumbai, Pune and Delhi registered negative movements of 9%, 6% and 3% respectively during the same time period. Chennai witnessed a minor 1% dip in hiring and Bangalore maintained stable hiring levels during the same time period.
India Infoline Research Team / 08:59, Sep 02, 2014
The indices are expect to open on a positive note. Some profit booking could always set in later in the day.