Hiring activity sees modest decrease of 2% in January, says Naukri.com

Naukri.com's recently released Jobspeak Index for January 2017 stood down 2% at 1,707 as compared to 1,748 in January 2016.

Sectorwise, Telecom/ISP industry saw a 23% slump in January this year over the year-ago period, while jobs in the oil and gas and power, infrastructure industry saw a 28% fall. Representational Image. Image Source: Pixabay

Overall hiring activity reported a modest decline of 2% in January as certain key sectors like banking, financial services showed negative growth amid uncertainty across the board and the trend is likely to continue for next few months, says a report.

The Naukri.Com's Jobspeak Index stood at 1,707 in January this year, down 2% over January 2016, when it stood at 1,748.

However, on a month-on-month basis, the index recorded an increase of 3% from 1,659 in December 2016 to 1,707 in January 2017.

"The Jobspeak Index has shown a small annual decrease of 2% in January 2017. Due to uncertainty across the board, some of the key sectors have shown negative growth and while there are a few positive signals, this trend may continue for a few more months," Naukri.Com Chief Sales Officer V Suresh said.

Sectorwise, Telecom/ISP industry saw a 23% slump in January this year over the year-ago period, while jobs in the oil and gas and power, infrastructure industry saw a 28% fall.

Construction and Engineering jobs decreased by 10% in January 2017 when compared to year-ago period whereas banking and financial services jobs saw 1% fall.

The maximum number of new jobs continued to be in the 0-3 years category. Senior Management hiring fell, with jobs for 13-16 years of experience witnessing a decrease of 3% when compared with December 2016.

Within the top metros, Delhi/NCR, Mumbai and Bengaluru witnessed a decline in hiring activity of 11%, 8% and 6%, respectively.

Among other metros, the jobs index recorded a growth of 3% in Hyderabad and Chennai, 15% in Pune and 24% in Ahmedabad.

The index has been calculated based on job listings added to the site month on month. July 2008 has been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July.

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