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Last Updated : Apr 08, 2020 02:03 PM IST | Source: Moneycontrol.com

Coronavirus impact | March sees 18% dip in hiring: Naukri.com study

The maximum drop was reported from the metropolitan cities such as Delhi where hiring dipped by 26 percent, followed by Chennai where a 24 percent decline was registered

A study recently conducted by the Naukri.com has revealed that hiring activity in India has dipped by 18 percent in the month of March alone. The sectors worst hit by the outbreak of COVID-19 are travel, airlines and hospitality – where hiring dropped by as much as 56 percent compared to last year’s figures.

The study conducted by the leading job portal also reported a 50 percent decline in hiring in the retail sector, stated The Free Press Journal quoting agency reports.

The other sectors that have seen a decline in hiring activity are automobile industry at 38 percent, the pharmaceutical industry at 26 percent, insurance at 11 percent, accounting and finance at 10 percent, IT-software nine percent and banking and other financial services at nine percent.

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The ‘Naukri JobSpeak Index’ report for March 2020, further notes that hiring was sluggish starting January 2020 itself, where a growth of 5.75 percent was clocked in, before finally reporting no growth at all in February.

Pawan Goyal, Chief Business Officer, Naukri.com, claimed that in the first 20 days of March, hiring activity had only seen a decline of five percent.

He added: “However, due to the nationwide lockdown, there was a substantial decline in recruitment activity in the last 10 days, which resulted in an overall drop of 18 percent in hiring.”

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The maximum drop was reported from the metropolitan cities such as Delhi where hiring dipped by 26 percent, followed by Chennai where a 24 percent dip was registered. Among other big cities, Hyderabad also saw a substantial dip in hiring activity at 18 percent.

In Delhi and the National Capital Region (NCR), hiring in the pharmaceutical industry was down by 66 percent and 43 percent, respectively.

Besides, this decline in recruitment activity cut across experience levels. For instance, hiring of professionals with more than 13 years of experience saw the sharpest decline at 29 percent, whereas recruitment of professionals with a maximum of seven years of experience saw a decline of 16 percent.

One must note here, despite the novel coronavirus-induced lockdown and the general uncertainty that looms large not only in India but across the globe due to the pandemic, some key industries such as IT, BPOs and banking have recorded lower decline rate. All of the sectors mentioned here form a major chunk of India’s white-collar job segment.

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First Published on Apr 8, 2020 02:03 pm
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