The IT sector witnesses the highest ever job index in September and the Insurance sector is at its lowest ever: says Naukri Job Speak

The stability of the Naukri Job Speak index for the past four months clearly indicates a steady hiring scenario and improved business sentiment in the country. Although, the index for Sep-10 inched down marginally by 1.2% from 956 in Aug-10 to 943 in Sep-10, the three month moving average index indicates steady recruitment levels. On a year on year comparison the job index moved up by 22% in Sep-10 as compared to the same time over a year ago.

Industry Sector Analysis

An in-depth analysis of the index shows that the IT sector has significantly ramped up recruitment activities with the job index steadily moving in a positive direction for the past three months. In Sept-10 the index is at its highest ever and stands at 1047. A similar sentiment was echoed in the recently released Naukri Hiring Outlook Survey where in 78% recruiters from the IT sector indicated that new jobs will be created in the second half of 2010. In contrast, most of the other core industry sectors Auto, Construction, Oil & Gas and Banking registered dip in their indices within the range of 2% and 5%. The Insurance and the ITES sector in particular witnessed steep monthly declines of 29% and 15% in Sept-10 when compared with Aug-10.

Functional Area Analysis

The hottest skill sets for the month of Sept were Software development and Sales & Business development where the index moved up by 3% and 2% respectively in Sept-10 over Aug-10. However the demand for professionals in Banking, ITES and Finance registered notable dips of 15%, 8% and 5% in Sept-10 over Aug-10.

City Wise Analysis

A look at the hiring trends of the top cities of the country show that Mumbai, Bangalore, Kolkata and Chennai have seen steady hiring levels with their indices moving in a positive direction consecutively for the past two months.  The index for Kolkata and Bangalore moved up by 5% and 4% respectively in Sept-10 as compared to Aug-10. On the contrary, Delhi and Pune witnessed a dip of 5% and 2% respectively in their indices in Sep-10 over Aug-10. Overall, the index seems to be moving in a steady pace indicating a positive hiring sentiment for the year.