According to Naukri.com’s Job Speak Index, an indicator of job listings on the portal, hiring activity in the IT – Software/Software Services as well as ITES/BPO saw a year-on-year (YoY) decrease of 11% and 8% respectively, in October 2016. Hiring in IT-Hardware sector also saw a decrease of jobs posted by 24%.
The overall hiring activity on the portal decreased by 8%, the company mentions mainly due to the impact of the festive season. The job index for October stood at 1580. Note that the index uses the total number of jobs posted in July 2008 scaled to 1000 as a base, and was realigned in December 2014, to take into account the jobs added by the telesales team. Although the tele-calling data is relatively small, Naukri says that the addition of the same to the index gives a more holistic picture of the Indian job market.
Sector wise: According to the report, Banking/Financial services saw an increase in jobs by 6% YoY, while insurance sector jobs grew by 21% in the same period. Jobs in engineering and construction, oil and gas and other industries also declined YoY.
City wise: All metro cities registered a decline in hiring activity during October, with Chennai seeing the maximum decline of 39%. Delhi NCR, Mumbai, Bangalore saw a decline of 17%, 35% and 6% respectively, compared to the same time last year. Jobs in Hyderabad remained steady, while jobs posted for Pune and Kolkata also declined by 34% and 29% respectively. The report mentions that other smaller cities saw a similar decline in jobs posted.