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Hiring remains flat in August, but these sectors continue to see growth

FE Online
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Even as the overall hiring activity remained flat owing to weakness across sectors, IT-Software and accounting continued to see robust growth in August, a report said. While BFSI, auto and construction witnessed weak hiring activity, sectors such as IT-Software and accounting continued to observe a growth of 14 per cent and 26 per cent, respectively in August 2019 as against the corresponding period last year, Naukri JobSpeak report said. Even as cities such as Delhi and Mumbai saw a fall in hiring, Hyderabad and Pune witnessed a growth in recruitment activity during August 2019, it added. While hiring activity increased for mid-level executives, the demand for entry level jobs remained unchanged.

“The economic slowdown in some sectors has impacted the overall hiring activity for the month of August 2019. However, the growth in sectors like IT – Software ensured that there was no decline in overall hiring activity. Hopefully, the upcoming months will see a revival of hiring in crucial sectors,” Pawan Goyal, Chief Business Officer, said.

“Major industries that observed a downtrend in hiring during August 2019 were BFSI (-23%), Auto (-16%) and Construction (-14%).  However, demand for professionals from the IT- Software industry grew by 14%. Other industries that supported the overall hiring activity were IT- Hardware (6%), Accounting (26%), and Advertising (10%),” the report noted.

Also read: Jobs are coming: Significant hiring on cards next quarter; check which sectors will hire most people

Meanwhile, despite the ongoing economic slowdown, companies in India are optimistic about generating more jobs in the near-term. India has ranked fourth-highest globally in the strongest sentiment for hiring in the fourth quarter of 2019, according to the ManpowerGroup Employment Outlook Survey. One-fifth of employers surveyed in India believe that there will be significant hiring in the forthcoming quarter. The top three countries ahead of India in the hiring sentiment are Japan, Taiwan, and the US.