Naukri.com: Job Index indicates slowdown in hiring by 22.4% in Nov 08
07 January, 2009
According to a study by Info Edge India’s job portal Naukri.com, India witnessed a slowdown of about 22.4 per cent in new hiring in November 2008, as compared with a slowdown of 21.9 per cent in October 2008.
JobSpeak, an index that showcases the current job scenario, reveals that the overall job index in November 2008 was 776, as compared to 781 in October and 1000 in the base month of July 2008. The index has been calculated based on new jobs added to Naukri.com month on month.
According to Info Edge India, the slowdown in hiring could be the result of companies scaling back their recruitment plans due to the global financial crisis and the current economic conditions.
Historically, there is a seasonal decline in October which is around 10 per cent as recruitment slows down due to the festive season. However, this year the hiring scenario remained quiet even after the festive season, as slowdown sieved through most industries.
“There is not much impact on the index, as compared to October, despite the seasonality waning off,” Hitesh Oberoi, COO and Director, Info Edge India, has said. “The sentiment remains subdued and seems to be bottoming out at these levels.”
On hearing daily, World Bank banning companies I thing there will be recession in Jobs too... :)
Kunal's point is common sense which apparently didn't strike Naukri
I think Kunal's point is a valid one. The study should cover other job portals as well, if they are to get a balanced picture of the scenario.
Can someone throw somelight on Jobspeak? Is it based just on the jobs listed on Naukri?
Does it mean that if Naukri performance is poor, the index will go down (and not necessarily the otherway down:)). Any meaningful index should capture data from customers in a broadbased manner to ensure that the index is not influenced by bad performance of the company that is plotting the index itself
Jingle, are you the auditor of Info Edge (not that we can trust auditors any more than the promoters these days)?
Get a life Dheeraj :X
Info Edge is probably the most transparent/clean/straight-forward organisation in the country, in my opinion.
Corporate governance in this company is poor with a long history of:
a) misleading the investors with incorrect information
b) hiding financial performance of individual divisions
c) making fancy press releases in the hope of spiking the stock price (like Jeevansathi becoming No.1; what a joke)
Mini-Satyam in the making!
This is a nice way to say that the revenues & profit for Oct-Dec08 will be &%$*ed up.
Does this means recruiters and companies in hiring are also planning to do the axe effect?
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