Economists and experts worrying of an impending economic slowdown caused by rising prices, but hiring managers in Indian companies are not, according to the latest hiring numbers from Naukri.com — India’s biggest hiring portal.
The company noted a 4% rise in hiring activity in June compared to May and a 19% jump year on year.
The jump has come after a 2% rise in May and a 2.1% dip in April. The Naukri hiring or job index was up 3.3% in March (see figure.)
Overall, the picture seems to be one of optimism in hiring.
Hitesh Oberoi, Managing Director and CEO of Info Edge, which owns Naukri.com, said he expected “structural issues,” such as inflation to be successfully managed in the coming months.
“While it is possible that the slowdown in economic activity may lead to a lower pace of hiring, supply side issues are more structural and therefore short-lived. Thus economic slowdown may not necessarily affect the pace of hiring,” he said, commenting on the strong hiring numbers.
There is no slackening on the recruitment front and across almost all sectors are hiring at a steady pace, he added.
Part of the strength in the numbers may be attributable to the fact that more and more employers are using Naukri.com as a tool, though the company tries to make its index as much of a barometer of Indian hiring as possible.
Most of the strong hiring was the result of high demand from the IT and BPO sector, which saw a 12% jump in its hiring levels in June over May. In May, they were up only 4% though they were up 9%-10% in March over February.
Other strong industry performers were Banking and Capital Goods, up by 9% and 7% respectively; Pharma sector (up by 9%). Telecom, however, saw a dip of 17%.
Hiring activity for Hyderabad, Bangalore and Chennai moved up by 15%, 10% and 9% respectively in June-11 as compared to May-11. Hiring activity for Mumbai moved up by 3% while Pune witnessed steady hiring levels. However, the job index for Kolkata and Delhi dipped by 6% and 4% respectively in Jun-11 over May-11.