HOME > BUSINESS > Hiring slows in October due to festival effect – Naukri.com

Hiring slows in October due to festival effect – Naukri.com

overall-index

Hiring activity fell 8% October this year compared to the same month a year ago, according to Naukri.com’s Job Speak Index.

This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October, the company said. “Hiring activity generally tends to slow down around these festivals as recruiters go slow on hiring plans and job seekers also temporarily suspend their job hunt.”

Technology industries i.e. IT – Software/Software Services as well as ITES/BPO saw a YOY dip of 11% and 8% respectively, after seeing consistent growth so far in the financial year. IT – Hardware sector also saw jobs decrease by 24%.

IT – Software and ITES/BPO/KPO saw jobs in Oct 2016 go down by 9% and 6% respectively when compared to Oct 2015. IT – Hardware jobs also fell by 11% in the same time period.

Finance industries continued to have an impressive run and witnessed job growth even in the festive season which had an overall negative impact on jobs (see graph).

Banking/Financial Services saw jobs increasing by 6% in Oct 2016 when compared to Oct 2015, Insurance sector jobs grew by an impressive 21% in the same duration.

Finance oriented functional areas were relatively flat: Banking/Insurance jobs remained flat in Oct 2016 when compared to Oct 2015 while Accounts/Finance/Tax jobs saw a small dip of 4% in the same period.

Manufacturing and Infrastructure oriented industries continued to witness very low growth or a decline in jobs; while Auto/Auto Ancillary saw a modest 2% YOY increase in jobs, other sectors like Construction/Engineering, Oil & Gas/Power and Industrial Products/Heavy Machinery saw a reduction in jobs by 22%, 29% and 15% respectively.
Amongst other industries, Medical/Healthcare saw a 2% YOY growth in jobs while Education/Teaching also witnessed a 15% growth and were able to buck the trend of jobs slowdown in the festive season.financial

Amongst more traditional sectors: Sales/BD jobs were down by 11% while Marketing/Advertising jobs also fell by 8%.
The slowdown of manufacturing and infrastructure industries was reflected in functional areas that correspond closely to these industries: Production/Maintenance jobs fell by 4% while Site Engineering/Project Management witnessed a significant dip of 26%.

All metropolitan cities saw a YOY decline in jobs. Delhi NCR, Mumbai and Bangalore saw jobs decline by 17%, 35% and 6% respectively in Oct 2016 compared to Oct 2015. Jobs in Hyderabad were flat while Chennai, Pune and Kolkata also saw jobs decline by 39%, 34% and 29% respectively. Smaller cities were impacted just as strongly by the festive season and saw jobs decrease on a YOY basis.

Follow ULTRA.news
Demonetization took India forward by 3 years – SBI The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large ...
Vishal Sikka says Infosys trying to retrain employees displaced by automation Infosys Chief Executive Officer Vishal Sikka said his company was not overwhelmed by the problem of automation and that it is trying to retrain its staff displaced by automation.Sikka was responding to a question on 'what happened to the 11,000 employees' displaced by automat...
Who’s responsible for IT job losses? Ask this recruiter It's become something of a fashion to complain about job losses in India's big IT services firms.Companies like Infosys Ltd, Tata Consultancy Services, Wipro and Cognizant employ over a million people in the country, and have been letting go off tens of thousands this year as...
Cognizant says will layoff employees, close facilities this year Cognizant, one of the largest employers in India, said it will let go off some of its employees and shut down some of its facilities as part of its ongoing shift away from traditional outsourcing to 'digital transformation work'.The company said it is 'accelerating its shift...
Cognizant layoffs may be heading to TN labour courts as FITE preps petitions Forum for IT Employees or FITE -- an organization that claims to speak for ordinary IT workers -- said a group of employees of Cognizant Technology Solutions will approach the office of Labour Commissioner of Chennai today."Affected CTS employees file petition to the Labour ...
Bots cut Wipro employee strength by 12,000 A NASA RobotA pioneering artificial intelligence program that started getting deployed around mid-2016 has helped Wipro Ltd reduce its employee numbers by 12,000 people, the company said in its recent quarterly update."The HOLMES platform generated productivity worth ove...
Wipro refuses to reveal how many employees are being laid off Wipro Ltd, one of India's top employers, refused to confirm the exact number of people that it was laying off as part of its annual appraisal process."It is part of the internal appraisal process," company officials said, refusing to go into further details.The media ha...
Indian IT industry facing layoffs as conditions worsen, warns Assocham Trump unveiled his 'Buy American, Hire American' program yesterdayIndian IT companies are bound to see "some laying off" of their work force back home due to various negative forces impacting the industry, Assocham -- an association of various industries -- warned."With ...
After Cognizant, Wipro employees on edge as annual appraisal starts India IT growth: Nasscom Strategic Review 2016Employees of Wipro Ltd are nervous as the information technology giant has kicked off its annual appraisal process this month.The first of the several reviews, known as L1 or level 1, has been completed, and at least some emp...
Govt likely to intensify efforts to create All India Judicial Service High Court of Karnataka, DharwadDespite setbacks and opposition from both state governments and the judiciary, the central government is not ready to give up the proposal to set up an all India service for recruitment of judges modeled on the Indian Administrative Service an...
Rs 1.7 lakh cr deposited via demonetization may not be withdrawn – SBI Monthly cash withdrawals for all banks | source:SBI ResearchThe Indian banking system is likely to get a permanent liquidity boost of Rs 1.7 lakh cr due to the demonetization of high-denomination bank notes, State Bank of India chief economic adviser said in a note to bank c...
FITE urges Cognizant employees not to submit resignations FITE rose to prominence protesting layoffs at TCSForum for IT Employees or FITE, a web-based IT workers' collective, has urged employees of Cognizant Technology Solutions not to resign voluntarily if asked by the company's human resources department."If the employee resi...
DoT lifts freeze over BSNL’s 2016 JE exam, document verification starts Students attend an examThe Department of Telecom has lifted its freeze over the recruitment of 2,700 junior engineers into Bharat Sanchar Nigam Ltd, India's state-owned telecom operator.The results of the recruitment exam, conducted in September last year, were put on ho...
After missing twice, India comfortably meets power sector targets for 12th five-year plan After missing its targets by wide margins in the previous two five-year plans, India is all set to comfortably meet or exceed all its power sector targets for the 12th five-year plan that ends this month.Five-year plans, borrowed from the Soviet Union, are a legacy of Nehruvi...
Wholesale price inflation hits 3-year high on high diesel prices High fuel prices, particularly that of diesel, lifted India's wholesale price index to its highest level since the Narendra Modi government took power almost three years ago.On an overall level, wholesale price of various items jumped 6.55% in February when compared with ...
No immediate plans for universal basic income: Indian Government India's welfare budget, 2016-17The Indian government has no immediate plans or proposals to institute a scheme of 'unversal basic income' in place of the myriad social welfare scheme run by the country at present, the finance ministry said in response to a query.The clar...
Gadkari to miss ambitious highway target for 2016-17 Nitin Gadkari, who is slowly building up a reputation as a pragmatic and capable minister, is likely to face major disappointment in the ongoing financial year as his ministry is unlikely to meet the steep road construction target it set for itself.Unlike the term of the ...
DEMONETIZATION: SBI sees GDP growth fall to 6.1%, miss govt projection of 7% The country's largest bank, State Bank of India, said today that it expects the growth in India's gross domestic product to fall to 6.1% or lower in the current year from 7.9% last year due to the impact of demonetization.It said the projection by government of India's Centra...
TRUMP THREAT: TCS not worried, says we’re not the villains source: NasscomTata Consultancy Services, the largest Indian-owned outsourcing company, said it is able to manage with 75% less new visas this year as it has changed its business and recruitment models in recent years. It also said that outsourcing was key to protecting US j...
Demonetization: Modi announces bumper prizes; 15 lakh users to get 1,000 rupees Narendra Modi announced several 'prize schemes' to promote cashless transactions.Under the schemes announced today, there will be two sets of prizes for consumers and another for small merchants.Under the first scheme, any customer who uses any electronic form of payment,...
BSNL JE 2016 recruitment frozen after complaints to DoT – CMD Shrivastava BSNL Chairman and Managing Director Anupam Shrivastava said the recruitment of Junior Engineers (JEs) into the telecom company has been frozen by the Department of Telecom on the basis of complaints."It is being held up by the Department of Telecom... due to complaints," Shri...
DEMONETIZATION: Wholesale Price Inflation falls to 3.15% in November The annual rate of inflation, based on monthly WPI, stood at 3.15% for the month of November, 2016 as compared to 3.39% for the previous month and -2.04% during the corresponding month of the previous year.The fall is largely expected due to the impact of the withdrawal of h...
Industry welcomes move to include made-ups in apparel package SIMA has welcomed the move include made-ups in the apparel packageThe industry has welcomed the move by the government led by Narendra Modi to extend support to the made-ups export industry and said it would help the sector break out of its current slump.The cabinet had ...
Exports increase share of jobs in India – Study A new study by the Exim Bank has found that around 15% of the total jobs in India are related to India's exports sector, including both IT, BPO and material goods such as garments.The total number of jobs supported by aggregate Indian exports increased from about 34 milli...
Petrol Pumps, Airlines Will Not Take Old Notes From Saturday | DEMONETIZATION Old notes will no longer be accepted at petrol pumps and airline ticket counters starting from Saturday, according to sources.So far, petrol pumps and airlines had been given an exemption from demonetization of 500 and 1000 rupee notes.However, in an effort to control...