Online hiring activity registered a 2 per cent growth in July compared to the year-ago period led by the IT-software sector, indicating signs of recovery in the job market, says a report. The Naukri JobSpeak index for July stood at 1,928, a rise of 2 per cent from the corresponding period last year. The IT/software industry that witnessed layoffs in the previous quarter seems to be on the path of recovery with 9 per cent year-on-year growth recorded in July 2017. Key industries like banking/financial services, insurance and automobiles also saw a growth of 7 per cent, 17 per cent and 5 per cent, respectively, in July compared to the same month last year. “Looks like the job market is showing signs of recovery. The Jobspeak index for July has shown a year-on-year growth of 2 per cent, primarily driven by a 9 per cent growth in the IT sector.”Having said that the market is still volatile and we can expect this to continue for few more months before it heads north,” Naukri.com Chief Sales Officer V Suresh said. Of the 13 key cities tracked, 9 cities recorded a rise in hiring activity in July over a year-ago period.
The index for Delhi/NCR, Mumbai and Bengaluru grew by 12 per cent, 17 per cent and 12 per cent, respectively. While Chennai saw a dip of 10 per cent in hiring activity, Hyderabad recorded a 19 per cent increase during the same period. Within functional areas, jobs related to the banking/ insurance areas increased 28 per cent in July, while HR/Administration jobs saw a 2 per cent decline. Senior roles with experience requirement of 8-12 years and 13-16 years, both saw a 4 per cent growth in July. Employment for entry level jobseekers having 0-3 years experience rose by 1 per cent, while junior level roles with 4–7 years of experience witnessed a 2 per cent increase. Top management jobs with over 16 years of experience fell by 1 per cent in the same time period.