Reeling under the effects of global recession, while about 2 million jobless Americans still unaware of their future job opportunities will see an end to their unemployment benefits this month, Indian job market has shown signs of recovery during September, October and November 2010 with a surge in hiring by 12 percent over the same period in 2009.
According to Naukri Job Speak index for November 2010, there has been a consistent growth in hiring activity over the period of three months.
One of the leading job search sites and a HR consultancy, Naukri Job Speak Index indicates that while Telecom and Pharma sectors registered slight surge in recruitment with 5 percent and 4 percent growth respectively in the three-month period, IT and Auto sector dipped by 6 percent in November 2010 over October 2010.
However, on a year on year basis, the two sectors have scored well with a whopping 26 percent and 30 percent increase in hiring, almost to the levels of pre-recession time. Other sectors that witnessed minimal growth include HR and Admin with 2 percent hike in employment at the end of November 2010.
Most of the other key sectors including BPO, Construction, Software Development, ITES, Sales and Marketing showed monthly dips ranging from 2 to 5 percent. Banking and Financial services sector recorded steady hiring levels, the Job Speak Index report said.
City wise indices show an upward trend in hiring in Delhi, Kolkata and Chennai while Mumbai, Pune, Bangalore and Hyderabad saw monthly declines, the report revealed.
The Naukri Job Speak Index seems to have presented a positive prospect of the job market in India, one of the fastest growing economies of the world, even as recruiters plan to boost up hiring activities in the first quarter of 2011, as per the results of a recent survey conducted by services firm Manpower India.