Economic uncertainties and inflationary pressure hinder hiring

Updated on: Thursday, June 14, 2012

As per a survey economic uncertainties and inflationary pressure continue to weigh on the sentiment of employers in the country and they seem to be embracing a cautious approach in hiring activities.
   
Employment portal Naukri.com's job speak index remained almost flat last month compared to April, indicating that recruitment activities have moderated.
   
The index a monthly gauge of hiring trends online stood at 1,194 in May as against 1,193 in April.
   
Info Edge India Managing Director and CEO Hitesh Oberoi said, "Concerns of a global economic crunch and rising inflationary pressures are acting as a caution sign for India Inc."
   
"Therefore, recruiters of some sectors are on a wait and watch mode. This does not mean that companies have frozen hiring, but they are certainly not going overboard," he said in a statement.
   
Info Edge owns the web portal naukri.com.
   
In May, IT-software and ITES sectors the largest job creators in the country witnessed a marginal dip in hiring levels on a monthly basis.
   
"Construction, BPO and telecom sectors have been staggering with low hiring figures for the last few months and have seen dips within the range of 4 per cent and 9 per cent in May 2012 when compared to April 2012," the statement  said.
   
On the other hand, hiring activities were positive in May for auto, oil & gas and banking sectors.    

The job index is about 10 per cent higher this May compared to the same period a year ago.
   
All the top cities, excluding Chennai and Mumbai, saw fall in recruitment activities in the range of 2-4 per cent in May compared to April, Naukri.com said.
   
Chennai and Mumbai witnessed 9 per cent and 3 per cent rise in hiring activities last month, respectively.

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