The Naukri JobSpeak Index for June 2018, at 2,047, marked a 9% increase in hiring activity from June 2017 (1,885). The Real Estate and Auto industries recorded notable increases in hiring activity, growing by 19% and 26% respectively. The Telecom industry, which has been steadily regaining hiring momentum in 2018, continued to grow with an increase of 23%. Hiring was positive across the metropolitan cities, increasing by 8% in Delhi and 9% in Chennai.
Commenting on the report, V. Suresh, Chief Sales Officer, Naukri.com said, “The Job speak index has shown a healthy 9% YOY growth in June after an impressive 11% growth in May and 21% in April respectively. Non-IT sectors viz Auto, Auto Ancillary, Real estate, Construction & BFSI continue to lead the growth. We can expect the job market to be cautiously optimistic and move further north in the months to come.”
Key Highlights of the report
Hiring Trends - Industry Wise
The industries with some of the biggest increases in hiring in June were Auto/Ancillary (26%), Telecom (23%), Industrial Products/ Heavy Machinery (22%) and the BPO industry (19%). There has been increased spending on infrastructure by both public and private players, boosting the Construction/ Engineering sector. Hiring activity increased by 20% in this industry. The Banking/ Financial Services industry has also been expanding, becoming more accessible to all populations and looking to grow in rural areas. Recruitment activity increased by 12%. Hiring in the FMCG industry increased by 9%, Oil & Gas by 5% and IT-Software by 2%.
The Real Estate industry was revived by the softening of real estate prices, the implementation of RERA, and recent judicial intervention in the field. This recovery has led to an increase in hiring activity, with Real Estate clocking in a rise of 19% in recruitment. This improvement can also be seen in the month on month hiring comparisons for 2018.
Hiring trends- Skill Wise
Skill-based hiring was concentrated in the fields of HR & Administration (22%), Production/Maintenance (17%) and Banking/Insurance (9%). Leadership skills (40%) were also in high demand.
( The graph indicates month-on-month hiring comparison From June 2017 to June 2018 for key Functional Areas)
Hiring Trends - Experience Wise
The demand for young talent remained high as job creation for freshers (0-3 years) saw an increase of 12%. In line with the skill-wise hiring trends, hiring for top level management (16+ years) increased by 11%, a big change from June 2017 and May 2018. Hiring for mid-level management roles (4-7 years) rose by 8%, sub-senior roles (8-12 years) grew by 6% and senior management roles (13-16 years) saw a growth of 5% in hiring.
Hiring Trends - City Wise
All metropolitan cities showed a positive hiring sentiment. Hyderabad, Chennai and Delhi led with 10%, 9% and 8% growth respectively. Mumbai followed with an increase of 4%. Bangalore, which had slowed down last month, picked up hiring with an increase of 2% year-on-year. Kolkata, operating on a low base, showed robust momentum, growing by 29%.The emerging cities beyond the top ten cities across the country also showed increased hiring activity.
The index has been calculated based on job listings added to the site month on month. July 2008 has been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008.