Hiring activity in Chennai saw a drop of 6%

PRLog (Press Release) – Aug 24, 2009 – New Delhi: According to Naukri JobSpeak, the monthly job index released by Naukri.com, hiring activity in Chennai went down by 6% in July 09 as compared to June 09, after a significant increase in hiring activity in the month of June09. The index dropped to 635 in July 09 as compared to 674 in June09. Prominent industries in Chennai include IT, ITeS, Auto and Banking. Although, on a national level hiring in all these sectors went up during June09, companies in Chennai seem to be cautious during the month. IT industry remained in the green with hiring activity up by 4% in IT-Software, 7% up in IT-Hardware & Networking and 3% up in ITeS and BPO. Banking and Financial Services was down by 7%, while Insurance was down by 3%. Auto saw a significant increase in hiring by 11%. “The economy has pulled out of the stagnancy in hiring. Although, there is an uptrend in hiring, this may be only indicative of replacement hiring,” said Sumeet Singh, National Head – Marketing and Communications, Info Edge. On the national level, the index edged up by 1.3% backed by a slight improvement in hiring activity in IT-Software and BPO industries. The index scaled to 727 in July09 as compared to 718 in June 09. “On the national level, the uptrend over consecutive months is encouraging. Improvement in hiring activity in lagging industries, such as IT, Real Estate, Retail and Auto, echoes optimism. However, continued increases in hiring activity over the next few months will indicate a turnaround in economic activity and in hiring,” said Sumeet Singh, National Head – Marketing and Communications, Info Edge. Among other cities, Delhi, Mumbai and Hyderabad saw an improvement, while Chennai and Pune saw a dip, in hiring activity. Hiring was up in Pharma, Auto and IT industry. July 09 witnessed an increase in demand for people with over 8 years of work experience. Industry Analysis: Hiring activity in the IT industry remained in the green as well as Retail, Real Estate and Auto picked up Hiring activity remained stable across most industries in July 09 as compared to June 09. IT industry remained in the green with hiring activity up by 4% in IT-Software, 7% up in IT-Hardware and Networking and 3% up in ITeS and BPO. Hiring activity continued to soar in the Pharma and Biotech industry, with the index up by 10%. Indicating some revival, hiring activity in Auto and Auto Ancillary, Real Estate and Retail, went up by 11%, 16% and 10% respectively. Hiring activity in Telecom saw a dip of 10% in July 09 as compared to June 09. Functional Area / Department Hiring activity was marginally affected across departments in July 09 as compared to June 09. Sales and Business Development professionals and Accountancy professionals saw hiring activity inch up by 4% and 5% respectively. Hiring went up marginally in IT – Software by 4%. There seemed some emphasis in hiring in Engineering Design: Research and Development where hiring went up by 16%. On a continued uptrend, demand went up by 2% for hospitality professionals with the index at an all-time high at 1083. Index of Total Jobs On Total Jobs(this includes refreshed jobs), the index moved down by 1.8% from 818 in June09 to 802 in July 09. According to the Total Jobs Index, the index peaked in Sep’08 at 1004 and bottomed in Dec’08 at 739, so far. Methodology Data for calculating the Index has been sourced from Naukri.com and is reflective of the job listings on the site. Jobs have been categorized by location, functional area, and industry. The index has been calculated across cities/ functional area- dept/ industry verticals. On the basis of job listings added to the site every month, the data shows an increase or decline in the jobs. To calculate the index, job listings added to the site in July 2008 have been taken on a base of 1000. The subsequent months have been indexed with data of July 2008. The report produced monthly shows hiring trends across industry sectors, geography and functional areas. More than 34000 clients use Naukri.com, leading to high reliability of the data. Info Edge is a leading provider of online recruitment, matrimonial, real estate and educational classifieds and related services in India. Our business is managed primarily through five divisions, which comprise online recruitment classified division, online matrimonial classified division, online real estate classified division, offline executive search division and online educational classifieds division. The company to address the Middle East job market has launched a Gulf version of the recruitment site. The company also launched a career counseling and guidance site, a professional networking site and an education classified site.