Hiring in October affected by festivals: Naukri Job Speak Index

The hiring activity has shown a decline in the month of October compared to the previous month, owing to the festival season, according to Naukri Job Speak Index. Among sectors, insurance and pharmaceuticals experienced a maximum decline, of 23% and 22% respectively as against September, 2014, said Naukri in an announcement.

Among the top metros, the National Capital Region (NCR) Delhi and Mumbai saw the maximum dip in hiring with the index moving down by 24% and 20% respectively in the same period.

"The festivities of October has taken a toll with the Naukri Job Speak Index reflecting a dip in the number. It is in sync with the past trend of decline in hiring in festival season," said Hitesh Oberoi, Managing Director and CEO, Info edge (India) which runs job website Naukri.com. "We are optimistic that hiring activity will resume with full momentum across all sectors in the coming months," he added.

 

The overall decline in hiring due to festivities was reflected in hiring activity across sectors, it said in a sectoral analysis. Apart from Insurance and Pharma, sectors like Information Technology and BPO have seen a month on month decline of 16% and 17% respectively while Banking and Auto sector moved downwards with the index waning by 21% and 17% in October, this year.

Other sectors like Telecom and Construction & Engineering have declined by 20% and 19% respectively in the same time period.

In terms of functional areas the index shows that professionals engaged in Banking and Insurance and Production Maintenance experienced a maximum dip with the index moving down by 29% and 28% respectively during the month, compared to the previous month.

Professionals employed in Marketing & Advertising and Sales & Business Development also witnessed a month on month decline in hiring, as represented by the Naukri Job Speak Index, of about 21%. Professionals employed in HR administration and Accounts Finance saw a decline of 19% each and BPO saw a dip of 22% during the month.

"All major cities saw a lull in hiring activity owing to festivals and long weekends in October. Delhi NCR and Mumbai saw the maximum dip followed by Kolkata and Pune which have witnessed a dip of 17% and 16% respectively in October," said the company.

Chennai and Bangalore have seen a decline in hiring and the index was reduced down by 14% each and Hyderabad declined by 10% in October, 2014, it added.