Domestic job market rises 8.1% in June, highest in a year

Domestic job market rises 8.1% in June, highest in a year
The Financial Express, July 17, 2009, Page 2

fe Bureaus, New Delhi

There is some positive news with hiring activity in the country rising 8.1% in June, 2009, compared with May, 2009. According to the JobSpeak survey conducted by online jobs portal Naukri.com, the growth in recruitment in June over May is “the highest upward movement since July 2008, indicating a strong hiring sentiment coming back to the market”.

Out of the key sectors surveyed in the report, all sectors except for FMCG, food & beverage and consumer durables showed an increase in hiring. While banking& financial services (BFSI) saw an increase of 22% in June, hiring for IT professionals was back in action and saw an increase of 12%. However, hiring in BPO and ITeS sectors was up by 3% as against May, with recruitment of software professionals going up 10%.

Other sectors, which saw an uptake include real estate and retail, where hiring was up by almost 25%. “Telecom saw a comeback with hiring activity picking up by 17%,” noted the report. However, hiring in FMCG and consumer durables saw a 8% and 14% drop, respectively.

Another sector which saw a huge upsurge in hiring was teaching and education, partly due to the beginning of the new academic year, as recruitment of professionals in these sectors saw a jump in demand by 22%. In BFSI, banking & insurance professionals saw a jump in demand by 12%, while demand for accounting & finance professionals inched up by 5%.

In terms of city-wise hiring, out of the top 13 cities, 12 recorded an increase in hiring activity. While hiring activity in Mumbai picked up by 13% after falling for several months in succession, Bangalore, Chennai and Pune saw a pick up in hiring activity by 10%,19% and 15%, respectively.