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Hiring activity improves sequentially in May: Report

Overall hiring activity has shown some improvement with a marginal 1 percent month-on-month contraction recorded in May as against a decline of 14.95 percent in April, according to a report.

The job postings during May stood at 2,047 compared to 2,072 in April on platform, according to Naukri JobSpeak Index.

Hiring activity in April had declined by 14.95 percent compared to March.

Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on website.

As per the latest Naukri JobSpeak report, the IT-Software sector registered a 14 percent growth in hiring in May compared to April.

It is encouraging to see a much lesser impact of the second wave of the pandemic on the job economy versus last year. Even though the hiring activity declined by 15 percent in April over March, we see hiring turning flat in May, signalling resilience and recovery,” Chief Business Officer Pawan Goyal said.

With the year 2021 seeing a strong wave of hyper-digitisation, the IT sector continues to drive hiring, recording robust sequential growth in May, he added.

According to the report, hiring activity in the education/teaching sector grew by 7 percent sequentially in May after posting a continuous decline over the past few months.

The hiring in the sector is led by marquee EdTech startups on the platform, it noted.

The shutdown of hotels, restaurants, and non-essential offices led to a sequential decline in hiring in sectors such as hospitality (- 41 percent) and retail (- 20 percent) in May.

Sectors like banking/finance declined 15 percent, FMCG (13 percent), and BPO/ITES (10 percent) in May compared to April, the report said.

Meanwhile, major IT Hubs like Pune with a 12 percent growth, Bengaluru (9 percent), and Hyderabad (4 percent), saw an uptick in hiring activity in May compared to the previous month, led by tech talent demand.

With Maharashtra successfully containing the pandemic, hiring activity grew by 5 percent sequentially in Mumbai.

On the other hand, hiring in Delhi/NCR remained impacted and declined by 11 percent in May.

As the pandemic continues to impact smaller cities in the second wave, tier-II cities remain subdued in hiring activity. Jaipur witnessed a dip of 19 percent, Vadodara (9 percent), and Coimbatore (5 percent).

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