Jobs are back! India Inc on a hiring spree

A spurt in the economic growth and the improved business confidence resulted in a 23 per cent growth in India Inc's hiring activity in the month of July, as against the same period a year ago.

Naukri.com's monthly job index -- JobSpeak -- moved up to 963 in July this year compared to 783 in the same month of 2009.

Recruitments in July also showed an improvement over the previous month as well, with the job index increasing by two per cent (to 963) in July from 947 in June, the study found.

"Hiring activity has been increasing in the country on the back of improving business sentiments and higher attrition level," Info Edge Chief Financial Officer Ambarish Raghuvanshi told PTI.

Besides he said, "There are some pleasant hues in terms of the core sectors like auto, Insurance, pharma and oil and gas taking a lead in job creation in the economy."

The pharma and insurance sectors have been bullish on hiring, with the sector registering a notable growth of 19 per cent and 17 per cent, respectively in the job index for July compared to June.

Other key industry sectors such as auto and oil and gas exhibited strong hiring growth, with the sectoral job indices moving up by 9 per cent and 7 per cent, respectively, in July compared to June.

In July, some sectors seemed on a comeback mode with a growth of 6 per cent in real estate jobs and 3 per cent in the retail and IT-Software over June -- reflecting the underlying positive growth scenario and business confidence in these sectors.

Similarly, demand for professionals in project management and sales moved up by 13 per cent and 10 per cent,respectively in July against the last month.

Geographically, Mumbai and Delhi witnessed an upsurge in jobs in the period under review with their job indices moving up by four per cent and three per cent, respectively, as against June.

On the contrary, Bengaluru and Chennai saw a dip in the index by seven per cent and three per cent, respectively.

In addition, hiring has been bullish in the first six months of this year, with 22 per cent more recruitment seen in the January-June period of 2010 compared to the same period last year.

"The continuous upward movement of the job index over the last few months surely instills a lot of confidence in the psyche of the jobseeker," the report stated.