Delhi-NCR emerges as a leading jobs generating center in India during July to September 2014,. This is followed by Bangalore, Mumbai and Chennai in that order. This is according to the ASSOCHAM Job Data Tracker (AJDT).
While Delhi-NCR created 28192, Bangalore created 17688 and Mumbai finished a close third with 16677 job creation during the period. The AJDT recorded that Bangalore, Mumbai and Chennai jobs have recorded positive growth rate of 8.23 per cent, 0.05 per cent and 25.22 per cent respectively.
“While the business sentiment seems to be picking up, the corporates are still not sure whether to go ahead with hiring plans …..The signals from the global market point towards a slowdown and this is surely affecting hiring in the IT which drives bulk of its revenues from exports, particularly to the US, Europe, Japan”, ASSOCHAM Secretary General D S Rawat commented while releasing the ASSOCHAM paper.
Among sectors, automobiles showed a healthy expansion of 37.7% while financial services has recorded 8.6 percent jobs generation growth. However, most of the sectors showed a negative growth during the period. As many as 23 of 32 sectors monitored by the AJDT posted decline in job postings. The worst hits were media, insurance, pharma, retail, aviation and FMCG. For instance, the media saw a contraction of about 60 per cent in job postings while the troubled real estate industry reduced hiring by over 75 per cent.
The job generation growth dipped in academic & education sector (17.8 per cent) insurance sector (28.0 per cent), manufacturing sector (29.6 per cent), engineering (23.9 per cent), banking sector (3.9 per cent) and FMCG sector (23.2 per cent) during this period.[cryout-pullquote align=”left|center|right” textalign=”left|center|right” width=”53%”]
- Delhi-NCR top job generator
- Automobiles and Financial services sector post positive growth
- IT, hospitality, infrastructure and aviation reporting negative growth
[/cryout-pullquote] About 4500 corporates across 32 sectors posted a total of 1.32 lakh jobs during the July to September 2014 period across India as against 1.65 lakh during April to June 2014, reveals the ASSOCHAM findings.
Amidst persisting weaknesses in the economy, job generation in India Inc saw a sharp drop of over 19.9% during July-September, 2014 over the previous 3-month period, including the IT, hospitality, infrastructure and aviation reporting negative growth, reveals the AJDT.
Signs of weaknesses in global economy and slow recovery in industrial output in the Indian economy appear to be weighing on the minds of corporates in their hiring plans.
The top ten cities that have recorded highest decline in jobs generation during July to September 2014 were Cochin (67.27 per cent), Nagpur (65.89 per cent), Dehradun (62.59 per cent), Gwalior (57.47 per cent), Allahabad (53.47 per cent), Indore (52.41 per cent), Meerut (51.93 per cent), Ranchi (51.52 per cent), Hoshiarpur (50.34 per cent), Jalandhar (45.15 per cent), adds the AJDT.
The IT industry has been amongst the largest creator of jobs in the globe and similarly in India. The analysis suggests that of late a decline in jobs generation has been seen in leading IT companies such as Nokia, Yahoo, IBM etc.. Moreover, bulk hiring seems to be on a downward spiral in the leading domestic IT firms as well.