The Naukri Job Speak index at 1206, was 9% lower in August’ 13 when compared to July’ 13, the maximum dip witnessed for the year; however, at the same time, the index shows an increase of 5% when compared to August 2012. All the top metros witnessed a dip in hiring levels indicating caution in the business and recruiting environment, with the highest dip in Kolkata .

For most of the sectors also, the hiring activity has taken a dive on a month on month basis. Pharma has suffered the highest dip with the job index going down by 14% in Aug’13 over July’13.

Hitesh Oberoi, MD and CEO Info Edge (India) Ltd said, “Hiring is bound to come under pressure in an unstable macroeconomic environment. In such a situation most companies focus only on replacement hiring. Hopefully the worst will be behind us soon and the market will start looking up in the 2nd half of this year.”

The cautious hiring approach is reflecting in the demand for professionals across sectors. ITES is the only sector which is more or less stable on a month on month basis with the job speak index marginally down by 2% in Aug,13 over July,13. However on a year on year basis the sector has witnessed a 22% growth.