June 10, 2014: After rather long bumpy periods the markets seem to be stabilizing now post the formation of the new government. The auto sector is the first to get back on the recovery mode and show positive signs reports the TimesJobs.com RecruiteX. The sector witnessed a rise of 4%, well above the industry average during May 2014. It had registered an average drop of 2% during Jan-May 2014, but witnessed a 3% increase in talent demand during March. However, the overall demand scenario is still sluggish with a fall of 2% registered in May 2014. Speaking on these findings Vivek Madhukar, COO, TimesJobs.com explains “ This trend is very promising, despite current sluggishness as employment is a lag indicator, and follows industry and market sentiments at a much slower pace than other trend indicators like the Sensex.”
Junior and entry level candidates back in demand
Candidates with 2-5 years of experience reported the maximum increase in demand during May 2014, followed by candidates with less than 2 years of experience cites the TimesJobs RecruiteX. The 2-5 years experience category registered 4% rise in demand for talent. After January 2014, this is the first time that this category has observed positive momentum. Freshers also had a tough time since the starting of 2014 and May is also the first good month for them this year.
- Candidates with 2-5 years of experience reported 4% increase in demand
- Freshers, with less than 2 years of experience witnessed 2% rise in demand
- Senior professionals, with over 20 years of experience reported highest drop (26%) in demand
Capital in control
Delhi NCR emerged as the best performing city during May 2014, with an 8% rise in demand. It is the only metro to register growth in demand for talent in the TimesJobs’ RecruiteX report. It was also the only city to sustain the growth momentum during April 2014 when all locations witnessed a drop in demand. Among other key cities, Jaipur reported a significant growth of over 30% in talent demand during May. Ahmedabad witnessed 8% growth and Chandigarh saw a 4% rise in demand – both these locations also accounted the highest average rise of 5% during the Jan-May 2014 period.
- Jaipur reported an over 30% rise in demand during May
- Delhi NCR and Ahmedabad witnessed 8% rise in demand for talent
- Chandigarh and Indore registered 4% increase in demand for talent
Rise of Accounting & Finance professionals
According to the TimesJobs.com RecruiteX report, it was the turn of accounting & finance professionals to register maximum growth in demand for talent during May 2014. This is the first time that the demand for these professionals has seen an upward trend since January 2014. After witnessing an average drop of 4% during Jan-May 2014 they have witnessed a 5% increase in demand in the month of May. Among other key functions front office& administration functions reported 4% growth and doctors, nurses & medical professional reported a rise of 2% in demand.
- Accounting & finance professionals witnessed 5% increase in demand
- Front office/administration reported 4% rise in demand
- Doctors/nurses/medical professionals and quality/process control profiles registered 2% rise in demand
This growing positive sentiment has been echoed by 44% of candidates in a recent poll on TimesJobs.com, who believe that more jobs will be created in the next 3 months. “One may call it the Modi effect, whatever way we look at it, the news remains good with the stabilising political scenario bringing back confidence and buoyancy in the job market. I am positive that there will be more job opportunities across segments in the months ahead.” sums up Vivek Madhukar, COO, TimesJobs.com. “Overall, the job market seems to be making a slow, yet steady return to growth, and that spells good news for everyone.”