New Delhi, May 12, 2010:
The Naukri Job Speak has seen an optimistic first quarter as the job index has been consistently moving in a positive direction successively for the past four months. This clearly indicates that happy times are back for both job seekers and recruiters as the Job index for Apr’10 at 1019 as compared to 962 in Mar’10 is the highest index since July’08. The hiring activity for the top industry sectors has been forging ahead strongly bringing forth this rebound in the job market. A year on year comparison of the job index shows all industry sectors, cities and functional areas moving in a positive direction.
Sumeet Singh, National Head, Marketing and Communication, Info Edge said “The first quarter of the year started on an optimistic note with a jump in hiring sentiment across cities, industries and functional areas. We can see that the job market has recovered sharply from the depths of gloom and the April job index has surpassed the pre down turn levels.”
A deeper analysis of the hiring activity reflects that the IT industry which was grappling with recession has seen things moving in a positive direction with hiring activity moving up by 48% in Apr-10 over Apr’09. This was also reflected in the Naukri Hiring Outlook survey (Jan-10) where 85% of recruiters in the IT sector said that new jobs will be created in 2010. Although in Apr-10 some of the top 10 cities show a minor dip in the index, on a three month moving average index all cities reflect an upward trend. In Apr-10 all functional areas show an upward moving index.
City wise Analysis: Bangalore, Hyderabad and Pune show an upward moving index in Apr’10 over Mar’10
The job index for Hyderabad, Pune and Bangalore crossed the July’08 mark for the first time in Apr-10. Hiring activity for Bangalore Hyderabad and Pune moved up by 18%, 17% and 10% respectively in Apr’10 over Mar’10.This is primarily because of the bounce back in the hiring scenario of the IT sector and these markets have a high IT concentration. Although the index for Delhi and Kolkata saw a dip in the April index, the three month moving average index moved up 7% and 6% in Apr’10 over Mar’10.
Industry Analysis: The hiring activity in the IT, Oil & Gas, Insurance and Telecom sectors moved up in Apr’10 as compared to Mar’10
The first quarter of 2010 has seen most of the industries on the path to recovery. The IT and the Insurance sector has seen maximum movement on the recruitment front with their job index moving up by 16% and 11% in Apr’10 over Mar’10 . Both these industries for the first time witnessed their job index surpass the July’08 levels. The ITES sector has seen a consecutively upward moving index for the past four months. Hiring activity for the Banking sector moved up by 8% and that of the Oil and Gas sector moved up by 11% in Apr’10 over Mar’10.
Functional Area / Department Analysis: Demand for professionals in the top 10 functional areas moved in a positive direction
The demand for professionals in key functional areas moved in a positive direction with the hiring activity for the professionals in Marketing, HR and Banking up by 14%, 11% and 10% respectively in Apr’10 over Mar’10. Professionals in IT- Software were high in demand as the index at 1011 crossed the July’08 levels. The job index for professionals in ITES and Production has been moving in a positive direction for the past three months with the April index moving up by 3% and 2% in Apr’10 over Mar’10.
Naukri.com, India’s No. 1 job site and the flagship brand of Info Edge revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth. Info Edge completed a successful IPO in November 2006 and remains the only listed Internet Company in India.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, and Response Management tools and its services include Job Postings, and branding solutions on the site. With 200000 jobs live at any point, Naukri.com serviced over 35500 corporate clients in 2009-2010.
The company has over 1550 people operating through 49 offices in 32 cities in India and overseas offices in Dubai, Riyadh and Bahrain.