The Telegraph
Thursday , June 12 , 2014
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Hiring stays muted

Calcutta, June 11: Hiring remained muted across industries in May compared with April with the exception of the IT and the ITeS sector, a report by job portal revealed.

However, hiring activity witnessed a 14 per cent growth in May on a year-on-year basis with the Naukri Job Speak Index standing at 1600 during the month.

“Hiring activity is seeing a period of stability. Since the elections are over now and we have a stable government at the Centre, we expect companies to start recruiting in the coming months,” said Hitesh Oberoi, managing director and CEO, Info Edge (India) Ltd, which owns

The ITeS and IT sectors saw the index moving up 15 per cent and 10 per cent, respectively, in May over the previous month.

The Naukri index is calculated on the basis of job listings added to the site with July 2008 taken as 1000. The subsequent months are indexed with the data of the base.

The oil and gas sector did well, while insurance recorded the maximum decline with the index moving down 30 per cent in May against April.

Pharmaceuticals and telecom also saw a downward spiral with the index moving down 8 per cent each on a sequential basis.

Requirement in the banking and insurance sectors saw a major slip of 27 per cent, while marketing and advertising dipped 17 per cent in the same period.

Hiring in New Delhi and NCR and Calcutta witnessed a downward spiral of 21 per cent and 19 per cent, respectively, in May over April. Chennai and Hyderabad saw the highest and second-highest growth in May 2014.