Hiring Activity Witnessed Recovery of 5% In July 2020 As Compared To June 2020: Naukri JobSpeak
July’20 marks marginal recovery in month-on-month hiring activities. Industries such as Recruitment /Employment, Media/Entertainment and Construction/Engineering bounce back with positive signs in hiring M-O-M as lockdown restrictions are eased further. While
Hiring Activity marks an improvement of 5% in hiring activity as compared to June 2020, at 1208, The Naukri JobSpeak Index for July’20 shows. The nationwide relaxations and re-opening of critical industries have paved the way for slight recovery in hiring activities but the Y-O-Y hiring is still down by 47% in July’ 20.
Industries such as Hotel/Restaurant/Airlines/Travel (-80%), Retail (-71%), Real Estate (-60%) and Oil & Gas/Power (-58%) continue to struggle in the month of July’20 versus last year same time. However, key sectors like BPO/ITES (-42%), FMCG (-39%), Pharma/Biotech (-38%), IT-Hardware (-30%) and Medical/Healthcare (-20%) were least impacted in hiring Y-O-Y.
Given the intensity of COVID cases in metros and intermittent lockdown in a few places, the hiring activity in metros declined more than the national average (-50% Vs -47%). Metro cities such as Chennai (-55%), Mumbai (-54%) and Bangalore (-54%) led the decline in hiring. Smaller cities such as Chandigarh (-28%), Jaipur (-25%) and Kochi (-33%) were least impacted. Recruitment across the board declined at varied experience levels with the entry-level experience bands (0 to 3 yrs exp) witnessing the sharpest decline of 51%.
Referring to the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “July’20 marks marginal recovery in month-on-month hiring activities. Industries such as Recruitment /Employment, Media/Entertainment and Construction/Engineering bounce back with positive signs in hiring M-O-M as lockdown restrictions are eased further. While the Y-O-Y hiring is still impacted leading to a decline of 47% in July’ 20, it is interesting to see emerging cities leading the way in job market recovery versus metros which are declining by more than 50%.”