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Naukri.com: Job Index indicates 12% growth in new hiring in November 2010

According to a study by Info Edge India’s job portal Naukri.com, the job market witnessed a 3 per cent decline in new hiring in November 2010, as compared to a month ago and a growth of 12 per cent as compared to a year ago. JobSpeak, an index that showcases the current job scenario, states that the overall job index in November 2010 was 922, as compared to 949 in October 2010 and 820 in November 2009.

According to a study by Info Edge India’s job portal Naukri.com, the job market witnessed a 3 per cent decline in new hiring in November 2010, as compared to a month ago and a growth of 12 per cent as compared to a year ago. JobSpeak, an index that showcases the current job scenario, states that the overall job index in November 2010 was 922, as compared to 949 in October 2010 and 820 in November 2009.

The study states that the 3 per cent marginal decline in new hiring in Nov 10 is due to the festive season when companies generally scale back their recruitment plans. An in-depth analysis of the indices shows that barring Telecom and Pharma which registered 5 per cent and 4 per cent growth respectively in Nov 10 over Oct 10, all other key industry sectors registered monthly declines.

Overall, the index seems to have stabilized at an elevated level indicating a positive hiring sentiment across most markets and industry sectors for the coming months. “With new budgets and plans kicking in from January onwards in many companies hiring should start looking up again in the next quarter,” Hitesh Oberoi, CEO and MD, Info Edge India, has said.

The hottest skill sets for the month of November 2010 were HR and Admin where the index moved up by 2 per cent in November 2010 as compared to a month ago. Kolkata saw strong hiring trends with the index surpassing the July 2008 levels and moving up by 8 per cent in November 2010 when compared to October 2010.

The job index has been calculated based on new jobs added to Naukri.com by clients and jobs acquired from Naukri.com’s existing clients by its tele-calling team month on month. According to Info Edge India, more than 35,500 national and international clients used Naukri.com in 2009-2010, leading to high reliability of data.

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