Across cities, the job market registered a double-digit dip in hiring led by metros wherein Delhi declined by 70 percent followed by Chennai (-62 percent), Kolkata (-60 percent) and Mumbai (-60 percent).
The coronavirus-led (COVID-19) shutdown has sent the hiring activity in the country into a tailspin, according to data by online job portal Naukri.
The Naukri JobSpeak Index April 2020 plummeted 62 percent to 951. JosSpeak is a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month on month.
The index includes jobs that might also be for replacement hiring. December 2008 is taken to be the base with an index value of 1,000 and the subsequent monthly index is compared with the data for December 2008.
Naukri is a brand of Info Edge and is the country’s largest online recruitment platform.
Also Read: Live updates from COVID-19 pandemic in India
Among the different sectors, Naukri JobSpeak Index for April 2020 showed the decline in hiring is led by industries like hotel/restaurant/travel/airlines (-91 percent); auto/ancillary (-82 percent); retail (-77 percent) and accounting/finance (-70 percent).
The jobs analysed for the monthly index are qualified on the basis of white-collar jobs belonging to the organized corporate sector with a focus on service industries.
Across cities, the job market registered a double-digit dip in hiring. The decline was led by metros wherein Delhi declined by 70 percent followed by Chennai (-62 percent), Kolkata (-60 percent) and Mumbai (-60 percent).
There was an across-the-board decline in hiring at varying experience levels with the entry-level experience bands (0 to 3 years' work experience) witnessing the sharpest decline of 67 percent.
Pawan Goyal, Chief Business Officer, Naukri.com said the disruption caused by COVID-19 continues to impact hiring activity. He said industries like IT-Software, software services, pharma/biotech/clinical research and insurance have been less impacted.
Among the various functional roles too, there was a hiring decline. Naukri JobSpeak data showed functional roles in purchase/supply Chain declined 70 percent. Further, roles in marketing and advertising dipped 69 percent. A similar decrease in hiring in sales and business development was seen while a 68 percent steep dip was seen in accounts and finance hiring.
Due to COVID-19 and the lockdown, businesses like airlines, hospitality and travel and hotel/restaurants which depend on customers have seen a decline in business. These entities are also making use of cost-cutting measures, one of which is slowing down fresh hiring.
Follow our full coverage of the coronavirus pandemic here.First Anniversary Offer: Subscribe to Moneycontrol PRO’s annual plan for ₹1/- per day for the first year and claim exclusive benefits worth ₹20,000. Coupon code: PRO365
