Hiring up 27% in May 2016: Naukri Job Speak Index
The hiring landscape is transforming for the better. That’s what the Naukri Job Speak Index report for the month of May 2016 which recorded an increase of 27% in hiring activity over May 2015.
Sustained growth in IT-Software and ITES during the year led to an impressive hiring sentiment for these sectors. On the other hand, Telecom and Real Estate reported negative sentiments in Y-o-Y index for May ‘16 over May ‘15.
Among the metros, Delhi/NCR reported an impressive Y-o-Y growth of 58%. Jobs in Mumbai and Bengaluru continue to grow with 41% and 35% growth.
Demand for professionals in IT-Software and ITES witnessed an upsurge in the May’16 over May’15 index. The period saw increased demand for professionals from these sectors as the index moved upwards for most part of the year and ended with an impressive 33% and 49% growth respectively. Similar trends were seen in demand for Sales and Business Development and Accounts professionals, they saw demand in their jobs go up by 19% and 22% respectively.
V Suresh, Chief Sales Officer, Naukri.com said, “As predicted earlier, job market continues to head north with an impressive 27% YOY growth in May. It’s good to see the index showing positive momentum across all major metros. Though IT/ITES/BPO sectors have been leading the growth for the past few quarters, sectors like pharma/biotech and insurance seem to show growth over the past few months. The market is looking good for jobseekers in the coming months.”
Negative sentiment for Project Management and IT-Hardware and Telecom professionals was reported in the May’16 over May’15 index. The period was a topsy-turvy ride for professionals in these areas as they saw their jobs going up and down throughout the year, and it ended with recording a negative sentiment of -10% and -3% respectively.
The period starting from May’15 onwards spelt good news for BFSI and Auto sector, with index moving north for most parts of the year. There were few months of negative sentiment but the period ending May’16 reported a growth of 15% and 11% respectively. After a long period of negative sentiment, the Oil & Gas industry has fared well in the May’16 index with a 5% growth. Real Estate posted a decline of -6% in the May’16 index, while IT-Software and ITES continues to rise, reports 30% and 34% growth respectively. Pharma & Biotech professionals witnessed an increase of 25% Y-o-Y growth, andMarketing and Banking professionals saw their jobs go up by 50% and 17% respectively, demand for professionals in HR and Top Management witnessed a Y-o-Y increase of 14% and 16% respectively. Demand for professionals in Project Management continue to decline with -10% in May’16 index.
In the city-wise analysis, all metro cities witnessed growth in jobs this year in May compared to the same time period last year. Among the metros, Delhi/NCR reported a Y-o-Y growth of 34% in the May’16 index, Mumbai and Bengaluru record an increase of 22% and 20% respectively, Chennai and Hyderabad post an increase of 19% and 27% respectively while, Pune and Kolkata witnessed an increase of 24% and 31%.