Auto Sector Lead Hiring Accelerated By 21% In April
The 21 percent rise came on the back of an 11 percent slump in hiring activity experienced in April 2017 due to the impact of macro-economic factors on the job market
Healthy job creation in auto, construction and engineering sectors accelerated the country's hiring activity by 21 percent in April 2018 in comparison to the corresponding period of last year, a report on job data released on 9th May, 2018.
According to the Naukri JobSpeak Index, the 21 percent rise came on the back of an 11 percent slump in hiring activity experienced in April 2017 due to the impact of macro-economic factors on the job market.
The report says that unlike 2018, last year economic reforms led to unpredictable nature of the job market. Commenting on the report, V. Suresh, Chief Sales Officer, Naukri.com said, "The Job Speak index continues to surge ahead and move north with a 21 percent Y-O-Y growth in April."
He adds, "This positive sentiment is in line with our earlier predictions and the growth observed in the first three months of 2018. This heralds a good start to the new financial year with growth across sectors. This signals positivity and we expect the market to stay cautiously optimistic in the months to come."
The report pointed out that the positive hiring sentiment ran across key cities like Chennai, Delhi, Bangalore, and Mumbai which saw 25 percent, 24 percent, 17 percent and 17 percent growth in hiring respectively.
Besides, the report showed that major industries which witnessed double digit growth in their hiring activity for April 2018 as compared to the corresponding period of last year were auto, up by 44 percent; construction and engineering by 34 percent; banking and financial services by 29 percent; and IT by 20 percent.