Hiring activity in India improved further during February and going forward this momentum is likely to pick up significantly once the uncertainty around the elections are over, says a report by job portal Naukri.com.
Recruitment activity had increased by 13 percent in January 2014 over the previous month. The Naukri Job Speak Index for the month of February 2014, saw a rise on month-on-month basis as well as year-on-year basis.
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In February, the index stood at 1,502, showing a 3 percent increase in hiring activity when compared to January 2014 and a 10 percent rise as against February 2013.
"February was slightly better than January on the hiring front. However this being an election year, most corporations are still on the wait and watch mode. We expect hiring to pick up seriously once the uncertainty around the elections clears by," Hitesh Oberoi, MD & CEO of Info Edge (India) Ltd, which owns job portal naukri.com, said.
Amongst industries, auto sector and capital goods have seen significant improvement in prospects during February, while banking & financial and BPO sector has seen a minimal growth, the report said. In terms of decline, IT software and construction sector have witnessed a dip with the index moving down by 7 percent each respectively. Insurance sector also saw a slight decline of 3 percent in February this year over January 2014.
The demand for professionals working in banking and insurance and accounts & finance continued to grow, while professionals working in project management and IT sector saw a decline in February this year over January 2014. Among all metros, Chennai has witnessed the maximum improvement in hiring trends. Bangalore and Delhi have also experienced an increase with the Naukri Job Speak Index moving up by 8 percent and 4 percent respectively in February this year over the previous month.
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