Hiring in July up 23% on improved biz confidence
Moneylife Digital Team 11 August 2010

New Delhi: A spurt in the economic growth and the improved business confidence resulted in a 23% growth in India Inc's hiring activity in the month of July, as against the same period a year ago, reports PTI.

Naukri.com's monthly job index-JobSpeak-moved up to 963 in July this year compared to 783 in the same month of 2009.

Recruitments in July also showed an improvement over the previous month as well, with the job index increasing by 2% (to 963) in July from 947 in June, the study found.

"Hiring activity has been increasing in the country on the back of improving business sentiments and higher attrition level," Info Edge chief financial officer Ambarish Raghuvanshi told PTI.

Besides he said, "There are some pleasant hues in terms of the core sectors like auto, insurance, pharma and oil and gas taking a lead in job creation in the economy."

The pharma and insurance sectors have been bullish on hiring, with the sector registering a notable growth of 19% and 17%, respectively in the job index for July compared to June.

Other key industry sectors such as auto and oil & gas exhibited strong hiring growth, with the sectoral job indices moving up by 9% and 7%, respectively, in July compared to June.

In July, some sectors seemed on a comeback mode with a growth of 6% in real estate jobs and 3% in the retail and IT-software over June-reflecting the underlying positive growth scenario and business confidence in these sectors.

Similarly, demand for professionals in project management and sales moved up by 13% and 10%, respectively in July against the last month.

Geographically, Mumbai and Delhi witnessed an upsurge in jobs in the period under review with their job indices moving up by 4% and 3%, respectively, as against June.

On the contrary, Bengaluru and Chennai saw a dip in the index by 7% and 3%, respectively.

In addition, hiring has been bullish in the first six months of this year, with 22% more recruitment seen in the January-June period of 2010 compared to the same period last year.

"The continuous upward movement of the job index over the last few months surely instils a lot of confidence in the psyche of the jobseeker," the report stated.

Free Helpline
Legal Credit