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India – Hiring activity up +10% from last year

13 March 2014

The Naukri Job Speak Index for the month of February 2014 was at 1502, equating to an increase of +10% compared with February 2013. The Index, which started in July 2008 with a base measure of 1,000 also recorded a month-on-month increase of +3% compared with January 2014, reports business-standard.com.

The Media & Entertainment sector reported growth during February 2014, with the index moving up by +18% compared with January 2014. Regionally, Bangalore reported the biggest month-on-month increase, moving up by +8% during February.

Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said: “February was slightly better than January on the hiring front. However, this being an election year, most corporations are still on the wait and watch mode. We expect hiring to pick up seriously once the uncertainty around the elections clears by.”

An in-depth analysis reveals that among the industries, the Automotive and Capital Goods sectors have seen an improvement in prospects, with the Naukri Job Speak index moving up by +16% and +12%, respectively, in February 2014 compared with January 2014. The Banking & Finance and BPO sectors reported modest growth with the index moving up by +5% and +3% in the same period. The Pharmaceutical sector also reported modest growth with the Naukri Job Speak Index moving up by +2%, month-on-month.

The IT software and construction sectors reported declines, with the index falling by -7% in each sector, month-on-month. The Insurance sector also reported a decline in February compared with January, of -3%. 

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