Hiring activity in the country jumped 10 per cent in August primarily driven by growth in technology and financial industries, says a report. The Naukri Job Speak Index for the month of August 2016 stood at 1835, recording an increase of 10.2 per cent in hiring activity over the same period last year.
“As predicted earlier, the job market seems to sustain the momentum gained in the past few quarters. The August index is moving north primarily driven by growth in sectors like IT Services, BPO & BFSI,” Naukri.com Chief Sales Officer V Suresh said. Suresh further noted that the growth momentum in the job market is expected to continue going forward.
“While bigger metropolitan cities continue to drive this growth, good to see the emerging markets showing signs of revival & we can expect this trend to continue in the coming quarters,” Suresh said.
A sector-wise analysis says that IT-software jobs picked up again in August and grew 11 per cent when compared to August 2015. BPO/ITES had an even more impressive month and clocked 16 per cent year-on-year growth.
Banking/Financial services experienced a massive year-on-year jobs growth of 42 per cent, the insurance industry also witnessed 49 per cent growth in the same duration.
On the other hand, infrastructure-oriented industries saw either sluggish growth or in some cases jobs actually decreased when compared to last year.
As seen in industry analysis, the functional areas most strongly associated with technology and financial industries lead the annual jobs growth in August 2016. IT-Software and ITES/BPO/KPO saw significant jobs growth.
Large metropolitan cities experienced relatively flat year-on-year growth in August. Delhi, Mumbai and Bangalore saw annual growth measuring 6 per cent, 2 per cent and 5 per cent respectively.
Pune and Kolkata by comparison had comparatively better growth of 11 per cent and 12 per cent respectively. Tier-II cities specifically Chandigarh, Baroda and Jaipur saw good growth by comparison, the report said.