Recruitment trends remained muted across industries last month compared to April with the exception of IT and ITeS sectors which logged double digit growth in hiring, according to a report by job portal Naukri.com.
However, on a year-on-year basis, hiring activity rose 14 per cent in May.
According to the report, the Naukri Job Speak Index stood at 1,600 for May 2014, a stable hiring scenario compared to the previous month.
"Hiring activity is seeing a period of stability. Since the elections are now over and we have a stable government at the centre, we expect companies to start recruiting in the coming months," said Hitesh Oberoi, managing director and chief executive of Info Edge (India), owner company of the job portal.
Industry-wise, the "hiring sentiment was muted across all the major sectors" except ITeS and IT sectors which saw 15 per cent and 10 per cent growth respectively in May over the previous month, the report said.
Oil and gas have also saw increase in hiring by 3 per cent month-on-month.
According to the report, the insurance sector has witnessed the maximum decline with the index moving down by 30 per cent in May against April.
It was followed by the pharmaceutical and telecom sectors which saw a downward spiral with the index moving down by 8 per cent each for the period under review.
Other sectors like BFSI (banking, financial services and insurance) saw a decline of 5 per cent while construction & engineering and auto witnessed a dip of 3 per cent in the same period.
Amongst cities, Chennai and Hyderabad saw the highest and second highest growth in the Naukri Job Speak Index in May against April.
Bangalore witnessed growth with the index moving up by 5 per cent, while Mumbai has seen a growth of 2 per cent.
Northern and eastern region has seen dip with Delhi-NCR region and Kolkata seeing a decline of 21 per cent and 19 per cent each respectively for the period under review.
Meanwhile, the report said that demand for professionals working in BPO and IT saw the maximum growth at 11 per cent and 10 per cent respectively month-on-month.
"Professionals working in banking and insurance have seen maximum decline with the Naukri Job Speak Index moving down by 27 per cent while marketing and advertising has seen a dip of 17 per cent in the same period," it added.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/recruiters, placement agencies and to job seekers in India and overseas.
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