Corporate India's hiring activity witnessed a significant rise of 8.1 per cent in June with recruitment in banking and financial services sectors increasing as much as 22 per cent in the month, a survey by job portal Naukri.com says.
The Naukri.com's JobSpeak index witnessed an increase of 8.1 per cent to 718 in June, which is the highest monthly upward movement since July last year. The index stood at 664 in May this year.
The surge in hiring activity pushed up the indices for most of the industries with banking and financial services witnessing an increase of 22 per cent last month as compared to May.
"The economy has pulled out of the stagnancy in hiring. Although, there is an uptrend in hiring, this may be only indicative of replacement hiring," said Info Edge's National Head (Marketing and Communications) Sumeet Singh.
Further, real estate and retail saw an increase in hiring by almost 25 per cent, with both the sectors pulling out of the low hiring mode. Telecom saw a comeback with hiring activity picking up by 17 per cent in June over May, the report stated.
After several months of a downtrend, hiring activity in IT-software also improved by 10 per cent, while IT-hardware and BPO and IT-enabled services remained stable in June.
Besides, in the city-wise analysis out of the top 13 cities, 12 cities recorded an increase in hiring activity in the month, indicating a positive sentiment pan-India.
Hiring activity in Mumbai picked up by 13 per cent in June as compared to May after falling for several months in succession. Bangalore, Chennai and Pune saw a pick up in hiring activity by 10 per cent, 19 per cent and 15 per cent respectively, in the month as compared to previous month, the report revealed.
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.
Further, Chandigarh and Cochin saw a pick up in hiring activity by 18 per cent and 16 per cent, respectively, with Cochin surpassing the July 2008 level of hiring.
