Uptick In Hiring Activities In October Over Previous Month: Naukri JobSpeak Report
With economic activities gathering pace post easing of lockdowns across the country, hiring activities in most sectors have shown significant recovery in October over the previous month, says a report.
On yearly basis, however, the overall hiring was down by 17% in October, according to the Naukri JobSpeak Index for October 2020.
The Naukri JobSpeak is a monthly Index that calculates and records hiring activities based on the job listings on Naukri.com website month-on-month.
IT-software and services sector grew 7% in October over the previous month as the pandemic pushes for a virtual and digitally enabled world, the report said.
Hospitality, travel and retail sectors, which were reeling under the impact of lockdowns, have started showing recovery with a 33% and 12% growth over last month on the back of festive cheer, it said.
"With consumption on the rise in the market, we also see an uptick in the hiring activities in consumer durables (4%) and advertising and PR (14%) sectors. Key industries that declined marginally in hiring include BPO (5%) and BFSI (4%); while the education and teaching and auto and ancillary sectors were flat versus last month," the report added.
The demand for professionals in the ticketing, travel, airlines and hospitality sectors saw an incline of 35% and 28%, respectively in October versus last month.
Additionally, hiring for professionals in the entertainment business especially TV and film production (17%) as well as web and graphic designers (17%), finance (7%) and sales and business development (6%) roles saw an uptick sequentially, the report stated.
Bengaluru (8%) and Chennai (6%) led the sequential recovery amongst key cities followed by Kochi (9%) and Coimbatore (5% from the tier-II city cluster; while Kolkata (4%) and Ahmedabad (6 %) declined in hiring in October versus last month.
"October sees slight improvement in year-on-year hiring activities due to lower bases last year on account of festivity. Interestingly, key sectors such as IT, BPO/ITES and BFSI are showing improvements in hiring sequentially.
"Sectors like travel and hospitality (33%) and retail (13%) have also shown positive signs of growth sequentially given the festive cheer and better Covid recovery rates," Naukri.com Chief Business Officer Pawan Goyalsaid.
Meanwhile, the report stated that hiring activities in October witnessed a decline by 17% compared to last year.
The slight improvement in the hiring activities in October compared to the same month of 2019 is owing to lower bases last year on account of Diwali, it added.
Further, the continued year-on-year growth of the chemicals and petrochemicals sector (30% in October) indicates manufacturers are adding new jobs as industries have started functioning with more capacity, it said.
"In a clear sign of recovery, we see year-on-year growth rates turning flat in the medical and healthcare sector in October," it added.
With slight decline, industries such as insurance (2%), pharma and biotech (6 %), BPO/ITES (9%) and auto and ancillary (7%) remained less impacted in year-on-year hiring activities.
In spite of monthly recovery, the decline on a year-on-year basis, hospitality and travel (58%), retail (37%) and IT-software (23%) sectors continued to be the most impacted in October.
The demand for professionals in banking and insurance (10%) and purchase and logistics (6%) roles saw an uptick in October compared to the same month of 2019.
Given the fluctuating intensity of the pandemic in metros, the recruitment activities in metros declined more than the national average in October, the report said.
Mumbai with 28%, Hyderabad (26%) and Chennai (24%), led the decline in hiring in metros.
Hiring in Chandigarh saw an uptick of 13 per cent Y-o-Y, while it remained flat in Kochi at just 1% growth, it said.
Recruitment across the board declined at varying experience levels with the entry-level experience bands (0 to 3 years) witnessing the sharpest decline of 21% in October compared to last year same time, it added.