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The Naukri Job Speak Index, which tracks monthly hiring activities online, reported that hiring rose by +16% during November, compared with the same month last year. On a month-on-month basis, the Job Speak Index recorded a +1% increase compared with October 2013, reports profit.ndtv.com.
Ambarish Raghuvanshi, Group President of Finance and CFO of Info Edge (India), which owns Naukri.com, said: “[The] Indian economy is currently poised on the cusp of change since general elections are around the corner.”
Mr Raghuvanshi further added that the Job Speak Index has moved up in the past two months, which points to a better hiring outlook for 2014. “Global companies are now looking at India as a core growth market since India has morphed into the talent powerhouse with the emergence of new technologies and business models. We are bullish on hiring in India next year.”
Hiring sentiment was positive but weak in most sectors, with the exception of IT & Software, which is experiencing an upward trend with the index increasing by +10% in November, compared with the previous month. Oil & gas and banking are also seeing positive growth with the index up compared with the previous month by +6% and +4%, respectively.
In contrast, sectors such as business process outsourcing (BPO) and the automotive industry have experienced a slump, moving down by -17% and -9%, month-on-month, in November.
Demand for IT & Software professionals continued to grow, with the Index reported a +8% increase in November, compared with October. Other professionals in demand are project managers, up +6%, and design engineers, up +5%.