Naukri Job Speak index indicates 16% dip in new jobs in October 2011

The uncertainty in the global economic outlook and the festive season has led to a 16% dip in hiring across India in October 2011 as compared to September 2011, according to the Naukri Job Speak index.

However, the three-month moving average index indicates stability in the hiring activity. According to Mr. Hitesh Oberoi, CEO and MD of Info Edge India Pvt. Ltd., "This season, a dip in hiring is expected. However, the dip this October has been exceptionally low and indicates that most employers are adopting a more cautious approach towards hiring."

Key industry sectors that saw double percentage dip in hiring activity were Auto Sector that saw a dip of 26%, IT-Software sector, Pharma sector, Oil & Gas sector, and Banking sector. The ITES sector saw only a marginal dip of 3% last month. Surprisingly, the hiring in the Telecom sector picked up by 19% last month.

On an Year-on-Year basis, ITES, Construction, and Oil & Gas sectors have shown dip in hirings.
Professionals, most affected during dips in hirings, included Production professionals that faced a dip of 23% in their hiring activity. Sales pofessionals faced a dip of 21%, HR professionals faced a dip of 18%, Marketing professionals faced a dip of 18% and Software service professionals faced a dip of 13% last month.

Source: Ruchi Shrimali (Shiksha Team)