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Hiring activity remains flat in October :Report

New Delhi | November 9, 2020 (PTI):Amid the ongoing festival season, the hiring activity remains flat in October as against September, according to the Naukri JobSpeak index. The report analysed that the ongoing festive cheer brings growth in sectors like IT-software/ services, hospitality, travel and retail, consumer durables, advertising and PR. However, the overall hiring is still down by 17 per cent in October at the year on year (YoY) level.

“The IT-Software/ Services sector grew by 7 per cent in October versus September as the pandemic pushes for a virtual and digitally-enabled world. Hospitality/ travel and retail sectors which were reeling under the impact of lockdowns have started showing recovery with a 33 per cent and 12 per cent growth vs last month on the back of festive cheer. With consumption on the rise in the market, we also see an uptick in the hiring activity in consumer durables (4 per cent) and advertising / PR (14 per cent) sectors,” the report mentioned.

There is also a huge demand for professionals in airlines and hospitality sectors also which witnessed an incline of 35 per cent and 28 per cent respectively in October versus last month. Additionally, hiring for professionals in the entertainment business especially TV/ film production (17 per cent) as well as web/ graphic designers (17 per cent), finance (7 per cent) and sales/ business development (6 per cent) roles saw an uptick sequentially, as per the report.

Meanwhile, key industries like BPO (-5 per cent), BFSI (-4 per cent) declined marginally in hiring while the education, teaching and auto, ancillary sectors were flat versus last month. However, as per a recently concluded Hiring Outlook survey, around 26 per cent recruiters feel that the hiring activity will return to pre-COVID levels in the next three to six months.

Pawan Goyal, chief business officer, said, “October sees slight improvement in YoY hiring activity due to lower bases last year on account of festivity. Interestingly, key sectors such as IT, BPO/ ITES and BFSI are showing improvements in hiring sequentially. Sectors like Travel and Hospitality (+33 per cent) and Retail (+13 per cent) have also shown positive signs of growth sequentially given the festive cheer and better COVID recovery rates.”