The Naukri Job Speak Index for September shows a decline of 1.2 per cent from that of August this year. Among the sectors, only construction seems to have shown a strong hiring pattern with 11 per cent growth followed by insurance at four per cent.
Automotive and pharma sector have remained stable, while BPO, IT/Software and banking have declined sharply. In terms of functional areas, there is some growth in production, but other areas have not shown any improvement.
Only Delhi and Pune appear to be stable, while all other metros display a bleak outlook.
However, here is another reality check: Business Today 's own C-fore Business Confidence Indexfor the July-to-September quarter this year shows optimism inching up.
And all said and done, the reforms announcements, though politically contested, have injected some hope in the economy. Even the TeamLease Employment Outlook Survey for the October-December 2012 quarter shows growth in hiring sentiment, though the business outlook shows a blip. The TeamLease quarterly survey offers a more forward view of hiring sentiment, while the Naukri suvey seeks to gather voices on a 'here and now' basis every month.
The lag effect of every market sentiment should also be borne in mind. Usually, recruiters and businesses look for a sustained drop in hiring for at least six months or a large decline in business contracts, avoiding any knee-jerk reactions. Luckily, no such major setback has occurred so far. But clearly the cautious mood is not going to go away in a hurry.
Help All
