Naukri JobSpeak report, a study by Naukri.com reported a positive hiring sentiment across the country in April 2018.
Naukri JobSpeak Index for April 2018 at 2,139 marks a 21% rise in hiring activity in comparison to April 2017. The surge is on the back of 11% drop in hiring activity experienced in April 2017 due to the impact of macroeconomic factors on the job market.
V. Suresh, Chief Sales Officer, Naukri.com shares, “The Job Speak index continues to rise and move north with a 21% YOY growth in April. This positive sentiment is in line with our earlier predictions and the growth observed in the first three months of 2018. This heralds a good start to the new financial year with growth across sectors. This signals positivity, and we expect the market to stay cautiously optimistic in the months to come.”
Following are the key highlights from the report:
- The hiring activity in the Banking and Financial Services picked up in April 2018, measuring 29% growth vs. April 2017. Following BFSI, the other two industries that experienced a rise in jobs were Industrial Products, and Heavy Machinery (increased by 42%), Construction and Engineering( 34% increase in job creation), Insurance and BPO industry grew by 28% and 21% respectively. Additionally, Oil and Gas industry was up by 17% in April 2018.
- The study indicated a consistent demand for entry-level job-seekers (0-3 years). This trend remained with a growth of 6% in April 2018 when compared with April 2017. On the other hand, the mid-level hiring (4-7 years) and senior level hiring (16+ years) recorded a year-on-year growth of 4% & 2% respectively in April 2018. However, the demand in roles for top management with the experience level of 8-12 years and 13- 16 years declined by 1% and 6% respectively.
- Hiring activities for April 2018 manifested an upward trend. Metropolitan cities observed an increase as Chennai grew by 25% followed by Delhi at 24% YOY growth. Mumbai and Bangalore witnessed a 17% growth in April 2018 as compared to April 2017. Pune, Hyderabad, and Kolkata grew by 23%, 13% and 23% respectively.
- Jobs requiring Sales as a prime skill were in demand with a growth of 21% in April 2018.
The index has been determined 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 analyzed with data for July 2008. The index has been examined across cities, functional areas, and industry verticals. The report shows hiring trends across industry sectors, geography, and functional areas.