Signs of recovery in the job market: Hiring portal says in report

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Hiring activity registered a 16% growth in November over last year, primarily driven by growth in the non-IT sector, and outlook for jobs looks bullish for the coming months, says a report.

The Naukri Job Speak Index for November this year stood at 2,113, indicating signs of recovery in the job market.

“The Jobspeak Index has shown 16 % year-on-year growth in November, primarily driven by growth in the Non IT sector. Good to see sectors like construction, engineering, auto, industrial products and banking showing significant growth over last year,” said V Suresh, Chief Sales Officer, Naukri.Com.

Suresh further said, “we can expect the market to further gain momentum and move north in the next few quarters”.

Industry-wise, jobs in construction/engineering industry went up 46 % while jobs in auto sector saw a growth of 39 % in November this year over November 2016.

In the same period, jobs in heavy machinery and banking sector saw 30 % and 24 % growth in hiring, respectively.

Of the 8 metro cities being tracked, 7 recorded an increase in hiring activity in November. The positive trend of job growth was also seen in smaller cities.

The index for Kolkata grew 51 % while Delhi NCR and Mumbai saw growth of 15 % and 16 % respectively. Bangalore however saw a dip of 3 %.

In terms of experience bands, entry level job seekers having 0-3 years of experience and senior roles with experience requirement of more than 16 years increased 21 % in November this year as compared to November 2016.

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

Source

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