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Good news! India Inc to hire more

Last updated on: August 18, 2009 16:29 IST
India Inc's hiring activity picked up by 1.3 per cent in July with improvement in recruitment in IT, real estate and retail sectors, says a survey by job portal Naukri.com.

The Naukri's monthly 'JobSpeak index' continued to move upwards and edged up by 1.3 per cent to 727 in July compared to 718 in June.

On a three monthly moving average, the index inched up from 686 in June to 703 in July with industries including real estate, semiconductors, banking, auto and IT, witnessing an improvement, the survey said.

"The uptrend over consecutive months is encouraging. Improvement in hiring activity in lagging industries, such as IT, real estate, retail and auto, echoes optimism.

However, continued increases in hiring activity over the next few months will indicate a turnaround in economic activity and in hiring," Sumeet Singh, national head, marketing and communications, Info Edge (owner of naukri.com), said.

In June, the hiring activity had increased 8.1 per cent over the previous month. Recruitment activity in the IT industry remained in the green with hiring up by four per cent in IT-software, seven per cent up in IT-hardware and networking and three per cent up in ITeS and BPO.

Hiring activity continued to soar in pharma and biotech industry, with the sector index climbing up 10 per cent. Moreover, hiring in auto and auto ancillary, real estate and retail, also went up by 11 per cent, 16 per cent and 10 per cent, respectively.

However, telecom did not do well in the month with the sector witnessing a drop of 10 per cent in hiring in the month.

Among cities, Delhi, Mumbai and Hyderabad saw an improvement in the reviewed month, while Bangalore, Chennai and Pune saw a dip, in hiring activity.

Delhi-NCR saw hiring activity move up by seven per cent in July as compared to June, while in Mumbai it picked up for a second consecutive month, albeit marginally by three per cent.

Hiring activity in Bangalore, Chennai and Pune were down by four per cent, six per cent and one per cent, respectively.

The index has been calculated on the basis of job listings added to the website month on month with July 2008 been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008.

The data has been sourced from Naukri.com and it reflects job listings and therefore hiring trends on the site.

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