For the second month straight, hiring activities in India across sectors has seen a decline of over 60 per cent. After a dip in hiring by 62 per cent in March, now hiring in India is at a decline of 61 per cent in May, as per a recent report by job search portal Naukri.com.
The decline was led by metros, where Kolkata declined by 68 per cent followed by Delhi (-67 per cent) and Mumbai (-67 per cent). There was an across the board decline in hiring at various experience levels with the entry-level experience bands (0 to 3 years of work experience) witnessing the sharpest decline of 66 per cent, as per the report.
Even as hiring across experience levels saw a decline, younger professionals were worst hit. The hiring for entry-level executives and senior-level executives (4 to 7 years of work experience) saw a dip of 66 per cent and 62 per cent respectively. The hiring activity for middle management roles declined by 55 per cent, and for senior management, the dip was by 50 per cent, as per the survey.
Hotel and aviation continued to be the most affected industry in May as well with a decline of 91 per cent in hiring across India, as per the survey.
Hotel/Restaurants/Travel/Aviation – 91%
Retail – 87%
BFSI – 70%
Accounting/Taxation/Finance – 69%
BPO/ITES/CRM/Transcription – 63%
Pharma/Biotech/Clinical Research – 48%
IT-Software/Software Services -54%
The most decline has been witnessed in metro cities lead by Kolkata at 68 per cent while Delhi and Mumbai following closely and jointly at 67 per cent dip in hiring, as per the survey.
Kolkata – 68%
Delhi-NCR – 67%
Mumbai – 67%
Chennai – 63%
Hyderabad – 63%
Pune – 63%
Bangalore – 58%
The report suggested that as many as 50 per cent of job seekers are utilising this time to upskill themselves. Most of the learners are pursuing data science analytics courses (22 per cent) followed by digital marketing (20 per cent) and finance and risk management (16 per cent).