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Industry News
Naukri Job Speak Index moves up by 3% in February 2014 compated to January 2014
Posted On : 2014-03-11 21:02:36( TIMEZONE : IST )
The Naukri Job Speak Index for the month of February 2014 was at 1502 showing a 3% increase in hiring activity when compared to January 2014. Yearly comparison shows a 10% increase in hiring activity when compared to February'13. Industry wise hiring sentiment was positive with sectors like Media and Entertainment showing an increase with the index moving up by 18% M-O-M. Among the top metros, Bangalore also saw a growth with the Naukri Job Speak Index moving up by 8% in Feb'14 over Jan'14.
Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said "February was slightly better than January on the hiring front. However this being an election year, most corporations are still on the wait and watch mode. We expect hiring to pick up seriously once the uncertainty around the elections clears by".
Industry Sector Analysis:
An in depth analysis reveals that amongst industries, Auto sector and Capital Goods have seen an improvement in prospects with the Naukri Job Speak index moving up by 16% and 12% respectively in Feb 14 over Jan 14. Banking & Financial and BPO sector has seen a minimal growth with the index moving up by 5% and 3% in the same period. Pharma sector also saw a modest growth with the Naukri Job Speak Index moving up by 2% M-O-M.
In terms of decline, IT software and construction sector have witnessed a dip with the index moving down by 7% each respectively. Insurance sector also saw a slight decline of 3% in Feb'14 over Jan'14.
Functional Area Analysis:
The demand for professionals working in Banking & Insurance and Accounts & Finance continued to grow with the index moving up by 8% each respectively in Feb'14 as compared to Jan'14. Supply Chain and Engineering design sectors also witnessed an increase with the index moving up by 7% and 6% M-O-M.
In terms of decline, professionals working in project management and IT sector have witnessed a decline with the index moving down by 10% and 6% respectively in Feb'14 over Jan'14.
City Wise Analysis:
Among all metros, Chennai has witnessed the maximum improvement in hiring trends. Bangalore and Delhi have also experienced an increase with the Naukri Job Speak Index moving up by 8 % and 4 % respectively in Feb'14 over Jan'14.
The Naukri Job Speak Index for Pune has moved up by 3% M-O-M respectively. Mumbai has seen stability with no change in hiring prospects in the same period. In terms of decline, Kolkata and Hyderabad have seen a dip with the Naukri Job Speak Index moving down by 13% and 6% in Feb'14 over Jan'14 respectively.
