August 10 2010
- Core sectors like Auto, Oil & Gas and Insurance registered positive growth in July-10, thus contributing to the overall job pool
- Key functional areas such as Project Management and Sales registered an upward movement in hiring activity in July-10 over June-10
- Mumbai and Delhi/NCR continued their growth momentum with 4 % rise in July-10 over June-10
Riding on a robust economic growth forecast, the Naukri.com job index moved up by 16 points to 963 for the month of July-10. The index thus moved up by 2 % over the June 2010 index indicating a continued improving hiring scenario and a 23% jump when compared to the July 2009 index. Even though the comparison with July 2009 may seem unfair given those were recessionary times, the continuous upward movement of the job index over the last few months surely instills a lot of confidence in the psyche of the jobseeker.
“Given July is among the peak recruitment months and the economy is robust one would expect the index to move up, and it did with a 2 % growth. But there are some pleasant hues in terms of the core sectors like Auto, Insurance, Pharma and Oil &Gas taking a lead in job creation in the economy “said, Ambarish Raghuvanshi, Chief Financial Officer, Info Edge.
A deeper analysis of the job index shows significant growth in key industry sectors. While the Auto industry clocked 9% growth in July-10 over June-10, Oil & Gas/Infrastructure jobs grew at 7% over the same time period. On functional areas, while most of the key areas registered growth, what was heartening was to see that the demand for professionals in Sales picked up by 10% in July-10 over June-10. Most of the bigger cities registered growth of close to 5 % with the exception of Bangalore which registered a dip.
Industry Analysis: An optimistic hiring scenario seen among key industry sectors with Real Estate and Retail which were hard hit by the slowdown witnessing a comeback
A deeper analysis of the key industry sectors throws up some really interesting points. Growth in the services sector which constitute around 60%(Source: CIA World Fact Book) of the total job pool within the organized sector was on expected lines. However, the core economy sectors saw an active participation in job creation this month. Key sectors that clocked impressive growth figures besides Auto and Oil & Gas were Pharma & Biotech, Insurance and IT Hardware & Networking which moved up by 19%, 17% and 10% in July-10 over June-10. Although the hiring activity in the ITES sectors dipped by 2% in July-10 over June-10 the three month moving average index indicates stability.
Some sectors are on a comeback mode as is evident with Real estate jobs growing at 6%, Retail and IT-Software jobs growing at 3% in the month of July-10 over June-10 reflecting the underlying positive growth scenario and business confidence in these sectors.
Functional Area / Department Analysis: Demand for professionals in key functional areas continued to grow in July-10 over June-10
The hottest skill-sets for the month of July were Project management and Sales where the index moved up by 13% and 10% points respectively in July-10 over June-10. The other major movers in the category were demand for professionals in Purchase at 5 % and Production at 4 % in July-10 over June-10. HR as a function has registered a growth of 5 % in July-10 over June-10, which is to be expected with the positive hiring outlook and growth in head count across Corporate India.
City wise Analysis: Seven out of top ten cities witnessed an upward moving job index in July-10 over June-10
While Mumbai and Delhi/NCR continued their momentum with 4 % and 3 % increase in their total job pool in July-10 when compared to June-10, two of the other major cities: Bengaluru and Chennai saw a dip in the index by 7 % and 3 % respectively over the same time period. Since both Bengaluru and Chennai are predominantly IT driven we discussed the same with leading IT companies and found the market is back on track and hiring has been picking up in the IT sector. Kolkata is back on hiring after two months of consecutive dip in the index with a 1.15 % growth in July-10 over June-10.Tier 1 cities beyond metros are doing well showing an increase in their total job pool.
About Naukri.com
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 accomplished a successful IPO in November 2006 and is the first 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 recruiter 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.
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