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Media Information survey hints at strong hiring trends in city

Published & Updated as on - 2010-06-11

The first four months of 2010 has brought back an optimism on the hiring front with the job index moving in a positive direction in Bangalore. It has especially been very positive in the IT sector.

The city saw the index at 937 in May 10, which is 40 per cent above the May 2009 levels. “Although we see that the May 2010 index for Bangalore has seen a 10 per cent dip over the April 2010 index, the three-month moving index indicates a steadier hiring scenario. At the overall level, the prevailing business sentiment of the economy is positive as the fiscal 2009-2010 ended with an impressive GDP growth of 7.4 per cent as compared to 6.7 per cent in the previous fiscal,” a statement said.

On a year-on-year comparison of the index shows all major cities, industries and functional areas moving in a positive direction, indicating that hiring activity has moved up across all sectors and is back to the pre-downturn levels. The IT and ITeS sectors have recovered from the pangs of the slowdown and has moved up 56 per cent in May ’10 over May ’09. The hiring to banking and financial services has seen an upsurge on an annual perspective with the index moving up 47 per cent in May ’10 over May ’09. Thus, key sectors in Bangalore IT, ITES, banking and financial services seem to be on a positive path.

A spokesperson for Naukri said, “The appraisal season generally puts a halt to the hiring activity for most companies which is why we see the dip in the May index. Although we feel the level of hiring is not such that could be considered as a job boom, the medium term outlook for the job market appears positive as demand is likely to rise for many roles across industry verticals.”

A year-on-year comparison of the job index shows that the demand for professionals in all functional areas grew in a positive direction with the maximum growth being witnessed among professionals in HR, IT and Accounts. Hiring activity for professionals in HR, IT and accounts grew 68 per cent, 54 per cent and 22 per cent for the said period. The professionals in ITES, marketing and project management were also high in demand as the index moved up 21 per cent, 17 per cent and 16 per cent respectively.

Source: BS 11/6/10

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