The Naukri JobSpeak index for April 2017 at 1768 is 11 percent down from April 2016, indicating a fall in the overall new job creation scenario. IT-software industry was hit the most during April 2017 with a 24 percent decline in hiring as compared to April 2016. Key industries like construction and BPO/ITES saw a 10 percent and 12 percent fall respectively, while banking saw a 11 percent increase in hiring during April 2017 as compared to April 2016. Major metro cities recorded a YOY fall in April 2017 as compared to April 2016.
V. Suresh, chief sales officer, Naukri.com said, “As predicted earlier job market continues to be volatile and the Jobspeak index in April has shown a negative growth of 11 percent (YOY).Though major negative impact seems to be in sectors like IT/BPO/telecom/insurance and construction, there seems to be an air of caution across all sectors and this volatility is likely to continue for few more months before the markets could move north again.”
City wise analysis
6 out of the 8 metro cities tracked, saw a decrease in hiring activity in April 2017 (YOY). The index for Delhi/NCR, Mumbai, Chennai and Bangalore saw a dip of 28 percent, 18 percent, 29 and 28 percent respectively, while Kolkata and Ahmedabad saw an increase of 10 percent and 19 percent respectively as compared to April 2016.
The IT-software jobs saw a 24 percent fall in April 2017 as compared to April 2016. Banking and financial services jobs saw 11 percent growth in April 2017 when compared to April 2016. While the telecom/ISP industry saw a dip of 10 percent, the BPO industry saw a 12 percent dip in Apr 2017 as compared to April 2016. Jobs in insurance saw an 11 percent fall in April 2017 as compared to April 2016. Construction and engineering jobs fell by 10 percent during the same period.
Functional area analysis
While IT-software jobs fell by 21 percent YOY, BPO jobs saw a drop of 15 percent for the same time period. Accounts/finance and HR jobs saw a dip of 7 percent and 14 percent respectively since April 2016. Sales/BD and production, both saw a fall of 3 percent and 4 percent respectively in April 2017 when compared to April 2016. Hiring in marketing and advertising also fell by 9 percent since April 2016.
Hiring of mid and senior management saw a fall in April 2017
The maximum number of new jobs (3 perecent MOM) were created in the 0-3 years’ category. Senior management hiring fell, with jobs for 13-16 years of experience witnessing a fall of 2 percent when compared with March 2017. While hiring in junior management remained buoyant, mid-management hiring (8-12 years of experience) witnessed a decrease of 3 percent during April 17.