Looking for a New Job? Overall Job Market Up 15%
It's a MoM rise from January to February 2017. But “We can expect the job market to be volatile for the next few months before it tends to move north again”
The Naukri JobSpeak index for February 2017 at 1960 is 15% up from January 2017, indicating an upsurge in the overall hiring scenario. Key industries like IT-Software and BPO/ITES saw an 8% and 21% growth respectively in February 2017 as compared to January 2017. Major metro cities recorded a MoM growth in February 2017 as compared to January 2017.
Commenting on the report, V. Suresh, chief sales Officer, Naukri.com said, “Though the Jobspeak index has shown just a 1% YOY growth in February, the good news is the month on month growth of over 15% in February compared to January 2017. We can expect the job market to be volatile for the next few months before it tends to move north again.”
City wise analysis:
Increase in hiring activity in major metro cities during Feb’17 has contributed to the overall rise in hiring activity in the job market. The index for Delhi/NCR, Mumbai, Bangalore and Chennai saw a growth of 20%, 14%, 12% and 11% respectively as compared to Jan’17.
The IT-Software Industry in India saw an 8% growth in Feb’17 as compared to Jan’17. While the BPO/ITES industry saw a 21% increase, the Oil & Gas and Power industry saw a 19% gain in Feb 2017 as compared to Jan 2017. Jobs in the BFSI industry saw a 31% growth in Feb 2017 as compared to Jan 2017. Construction and Engineering jobs increased by 14% during the same period.
Functional area analysis:
While IT- Software jobs saw an increase of 12% MOM, BPO jobs saw a gain of 20% for the same time period. Accounts/Finance jobs grew by 10% and Banking/Insurance jobs grew by 34% since Jan’17. Sales/BD and Production saw a 14% and 25% increase respectively in Feb’17 when compared to Jan’17. HR and Marketing saw a 5% and 10% growth in Feb’17 when compared to Jan’17.
Experience bucket: 8-12 years’ experience hiring rose by 18%
The maximum number of new jobs were created in the 8-12 years’ and 13-16 years’ category. Senior Management hiring grew, with jobs for over 16 years of experience witnessing a growth of 13% when compared with Jan’17.
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 1000 and the subsequent monthly index is compared with data for July. Data has been sourced from Naukri.com and it reflects of job listings and therefore hiring trends on the site.
Jobs have been categorized by location, functional area, industry, experience bucket. The index has been analyzed across cities/ functional area / industry verticals. The report (produced monthly) will show hiring trends across industry sectors, geography and functional areas. More than 32,500 national and international clients use Naukri.com according to Naukri’s media reps.
Naukri.com is India’s leading job site by market share and the flagship brand of Info Edge. The site enjoys a traffic share of 76% as per Comscore. With more than 250,000 jobs live at any point and over 49 million CVs, Naukri.com serviced over 60,000 corporate clients in 2013-2014. The company employs over 3100 people operating through 56 offices in 42 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.
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