Hiring improved in June with increased job opportunities in auto and pharma businesses, although key sectors such as IT were slow on recruitments, says a survey.
Leading job portal Naukri.com said that hiring was happening in selective sectors. The latest labour market readings come at a time when the overall economy is witnessing slowdown because of domestic and global factors.
“Selective hiring is happening across most sectors now. However, the next few months will be challenging for the overall recruitment market in India,” Info Edge India Managing Director and CEO Hitesh Oberoi said in a statement.
Last month, auto and pharma segments continued to take fresh talent while construction, insurance, oil & gas and ITES sectors went slow on hiring activities.
Naukri Job Speak Index—an indicator of online job demand—climbed to 1,210 in June from 1,194 in May. Compared to June 2011—when the index stood at 1,129 — hiring trends were better.
“IT sector which is the largest employer of skilled workforce has also slowed down hiring plans and lateral hiring across companies has almost been brought to a halt,” the statement noted.
According to Naukri.com, most industries have started feeling the brunt of a slowdown with sectors like construction, ITES, oil & gas and insurance witnessing a decline in recruitment trends on a year-on-year basis.
“Software services, banking and pharma sector however have seen their hiring levels pick up by 9 percent, 16 percent and 19 percent respectively in 12 June over June-11,” it added.
Except Hyderabad, where hiring activities slumped five percent in June this year, compared to year-ago period, all other cities have seen some increase.
“Both Mumbai and Chennai saw about 9 percent increases in their job speak index, while Delhi, Pune and Kolkata witnessed their hiring activity increase within the range of 3 percent and 6 percent, respectively during the same time period,” the statement said.