The year has started on the right note for job seekers. According to Naukri Job Speak Index, the month of January 2016 recorded a 19% increase in hiring activity over January 2015. IT-Software records an impressive 22% Year-on-Year growth, BPO/ITES has grown by 26%, Auto/Auto Ancillary is up by 9% followed by Banking and Telecom at 6% and 5% respectively whereas Oil and Gas continues to struggle with an -18% dip in the Jan’ 2016 index. Demand for professionals in ITES/BPO has grown by 31%, Banking by 25% and IT-Software by 20%. Among the metros, Delhi/NCR witnessed the maximum growth of 30%, Mumbai follows with 20% and Bangalore has grown by 17% in the Y-o-Y growth chart of Naukri Job Speak Index for the month of January 2016.
V Suresh, Chief Sales Officer, Naukri.com said, “Post an impressive 25% YOY growth in December, the job market continues to sustain the momentum gained with a 19% growth in Jan. As predicted earlier apart from IT/ITES and Banking, Non IT sectors like Auto, Auto Ancillary and Pharma are showing signs of revival. In my view good times are ahead as all cities across the country have shown growth in Jan 2016.”
Industry wise Analysis:
While IT-Software has shown promise among the core sectors, others like BPO/ITES has grown by 26% during the period, while Telecom and Auto industries grew by 5% and 9% respectively in the same period. Pharma is up by 8% in the January 2016 index and IT-Hardware recorded a marginal growth of 3%. Advertising/Marketing/PR sector witnessed a Y-o-Y growth of 42% and Real Estate and Oil & Gas registered a Y-o-Y decline in hiring activity in the range of -5% and -18% respectively.
City Wise Analysis:
All metro cities registered an increase in hiring activity in January 2016 in comparison to January 2015. Delhi/NCR has taken the lead in hiring activity in the January’16 index, followed by Mumbai, Hyderabad and Bangalore while Kolkata witnessed a Y-o-Y growth of 14% in Jan’16 over Jan’15. In the same period, Pune registered a growth of 11% in Jan’16 over Jan’15 period.
Functional Area Analysis:
The demand for professionals in Marketing/Advertising/PR saw a Y-o-Y growth of 46% in Jan’16 as compared to Jan’15 index. The demand for professionals in HR grew by 18% Y-o-Y in January 2016. In contrast, the demand for professionals working in Project Management and packaging saw a Y-o-Y decline of 10% and 12% respectively in the January’2016 index.