The Hindu Business Line : Hiring dips sharply in Oct

Bangalore, Dec. 30 Slowdown in hiring, which is generally around 10 per cent in October every year, has declined sharply this year, falling by almost 21.9 per cent.

Historically there is a decline in hiring, generally around 10 per cent, in October every year due to the festival season. According to a study by online job site Naukri.com, this year, the overall job index in October 2008 is 781 compared to 1,000 in July 2008, indicating a decline of 21.9 per cent.

The index is calculated based on new jobs added to the site month on month. July 2008 has been taken on a base of 1,000 and August, September and October index is compared with the July data.

The index suggests that companies are scaling down hiring and sectors that have shown a decline in the last three months are real estate, banking, finance, IT and retailing.

Interestingly, the BPO industry has witnessed a slight bounce back by 10 per cent in October after witnessing a decline in new jobs in August and September. The pharma sector has been comparatively less affected with a fall in the index of less than 15 per cent. Niche sectors, such as the Government and legal sectors, have seen an increase in new jobs.

City-wise analysis

In a city-wise analysis, the study, titled JobSpeak, found that the job index for Delhi fell from 1000 to 786.

Mumbai witnessed a higher setback in the month compared to September and August, with the job index falling from 1,000 to 715 in October 2008 from July 2008.

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