Diwali cheer for job seekers as demand rises 2% – reports TimesJobs’ RecruiteX
IT, telecom, ITeS and consulting services sctors are the top employment generators in October 2015
November 17, 2015: India’s job market ushered in this year’s Diwali with a jump in talent demand. Hiring activity across sectors in India grew by 2% in October 2015, according to RecruiteX – TimesJobs’ recruitment index. This is in sharp contrast to October 2014 when there was a double-digit drop in talent demand.
In fact, between August and October 2015, talent demand has reported a steady rise of 2% on average while it had posted a 2% drop during the same three months last year.
- IT, telecom sectors report a 4% jump in hiring
- Demand for Engineers post a 9% rise (very significant considering their huge base)
- Demand is up by 11% for junior & entry-level professionals
- Chennai leads the cities with demand rising a whopping 16%
IT and consulting companies’ demand for talent skyrockets
The consulting services are emerging as the fastest growing employment generator with a significant 9% rise in talent demand. The sector has registered an average growth of 3% (more than the overall industry average) in the last three months (August-October 2015).
Among the top ten sectors,
- IT/telecom posts a 4% rise in demand as well
- As does the BPO/ITeS sector reports 3% increase in demand
- The construction industry registers a 2% rise in demand
- And BFSI Hiring is up by 2%
during October 2015.
Demand for Engineers is back with a bang
“Hi-Tech skills and the burgeoning tech-based entrepreneurial spirit are the new growth engines of the Indian Economy. Initiatives like Digital India, Smart Cities, Make in India, etc. when coupled with easy availability of capital and improved networking infrastructure are creating unforeseen opportunities and changing the economy. The job-markets are reflecting this economic paradigm shift.” says Vivek Madhukar, COO, TimesJobs.com
After a two-month slump, demand for engineers revives in October 2015. The profile posts a 9% rise in demand during the month. In related news, professionals in IT & telecom also report an 8% increase in demand.
- Hi-touch skills such as those in the hospitality sectors also see a 7% rise in demand
- Business management professionals see a 7% rise in demand
- Accounting & finance professionals also witness 6% rise in demand
Demand for entertainment, media and journalism professionals also explodes and sees double-digit growth in demand. These profiles register a whopping 13% rise during October 2015 and have witnessed a consistent 2% rise on average in demand since August 2015.
Entry-level demand on fire
The demand for junior/entry-level professionals with 0-2 years of experience is witnessing a whopping 11% rise in demand. The category as a whole has registered an average 4% rise in demand over the last three months.
- Demand for candidates with 2-5 years of experience has also risen by 3%
- Candidates with 5-10 and 10-20 years of experience also posted 3% rise in demand
- However, demand for candidates with over 20 years of experience dropped a percentage point
Jobs sparkle in metros again
Talent demand revived in metros in October 2015. Except for Delhi NCR, all metros report an increase in talent demand. Chennai leads the pack with 16% rise in demand during the month. Bengaluru also posted a healthy 14% rise in demand. Among tier II and III job hubs, Ahmedabad tops the charts with an average rise of 10% in talent demand.
- Hyderabad posted 14% rise in demand
- Mumbai registered 7% increase in demand
- Among states, Andhra Pradesh (except Hyderabad) witnessed the maximum increase (21%) in demand
Read the full report here:
TimesJobs has become the destination of choice for professionals who consume a wide variety of information and insights to make smarter career decisions. Conceived and launched in 2004, by The Times of India Group – TimesJobs.com provides professionals with a seamless integration of information, insights and the largest collection of jobs that equips them to make smarter career decisions.
With a host of innovative tools and services to assist today’s professionals research, plan and actualize their professional ambitions, TimesJobs.com has pioneered the platforms of:
– JobBuzz.in for candidate engagement with company reviews and ratings
– TechGig.com a forum exclusively for techies to learn, compete and showcase their work
– StepAhead for career assessment and enhancement services
– RecruiteX as the definitive demand and supply recruitment index
– The TJinsite knowledge series and a lot more.
TimesJobs.com currently has a candidate database of more than 2.4 crore professionals – 60% with 3+ years of experience – who clock-in over 75 million page views a month. This highly receptive and engaged top talent pool has attracted a corporate customer base of more than 25,000 clients from across the globe. TimesJobs.com has been serving clients like HCL, IBM, Yamaha, Godrej, HSBC, Mahindra, Bajaj Allianz, TCS and Thomson Reuters to name a few.