Pune, 22 Nov, 2016: The Naukri Job Speak Index for the month of October’16 stood at 1580, recording a decrease of 34% in hiring activity over the same period last year. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October. Hiring activity generally tends to slow down around these festivals as recruiters go slow on hiring plans and job seekers also temporarily suspend their job hunt.
Trend of jobs growth in FY 2016
Sumeet Singh, Chief Marketing Officer, Info Edge India said, “In October we saw a dip in new jobs due to the impact of the festive season which saw three major festivals falling in October.
However, we are confident that this is a temporary phenomenon and in the coming month jobs growth will start improving.”
Industry Analysis:
The industry analysis revealed that Technology industries i.e. IT – Software/Software Services as well as ITES/BPO saw a YOY dip of 11% and 8% respectively, after seeing consistent growth so far in the financial year. IT – Hardware sector also saw jobs decrease by 24%.
Manufacturing and Infrastructure oriented industries have shown a decline in jobs; while Auto/Auto Ancillary saw a modest 2% YOY increase in jobs. Whereas, other sectors like Construction/Engineering, Oil & Gas/Power and Industrial Products/Heavy Machinery saw a reduction in jobs by 22%, 29% and 15% respectively in October’16 over October’ 15.
Functional Area Analysis:
The functional areas broadly reflected industry trends when it came to job growth trends.
IT – Software and ITES/BPO/KPO saw jobs in October’16 go down by 9% and 6% respectively when compared to October’15. IT – Hardware jobs also fell by 11% in the same time period.
The functional areas associated with the manufacturing and infrastructure industries reflected a slowdown: Production/Maintenance jobs fell by 4% while Site Engineering/Project Management witnessed a significant dip of 26%.
Amongst more traditional sectors: Sales/BD recruitment activity declined by 11% while Marketing/Advertising jobs also fell by 8%.
