Hospitality, travel & aviation lead steep drop in hiring: Naukri study
Hiring declined by 61% in May due to the nationwide lockdown to contain COVID-19 pandemic, a study has said. This is the second consecutive month in which more than 60% decline in hiring has occurred.
Recruitment fell to 910 job postings in May compared to 2,346 in the same month last year, according to the study by NaukriJobSpeak Index, which is a monthly index that calculates and records hiring activities based on the job listings on Naukri.com.
The report further revealed that the decline in hiring is led by industries like hospitality, travel, and aviation (91%), retail (87%), auto ancillary (76%) and BFSI (70%).
The job market across cities registered a double-digit dip of more than 50%, it added. In metros, Kolkata’s hiring declined by 68% followed by Delhi (67%) and Mumbai (67%).
The drop in recruitment activities in Kolkata was mainly led by auto and ancillary (98%) and hospitality (94%) sectors.
All experience bands recorded a negative growth and the demand for professionals in the hospitality and accounting sectors saw a decline of 96% and 84%, respectively.
Meanwhile in Delhi and NCR, hiring activities in the hospitality and accounting industries saw a dip of 94% and 81%.
Recruitment activities across all experience levels saw a negative double-digit growth, it added.
In Mumbai, hiring in the hospitality and auto sectors slipped 93% and 80%, respectively, the report said.
The recruitment activity across experience levels witnessed a fall of an average 64%, it added. The entry-level experience bands (0 to 3 years) saw the sharpest decline of 66%. The hiring for senior-level executives (4-7 years) fell 62%, while in middle management (8-12 years) roles it declined by 55%, senior management (13-16 years) by 50% and leadership roles (over 16 years) by 48%, it added.
Even as the hiring activities are down, more than 50% of job seekers are utilising the time at hand due to the lockdown for self-development and career advancement, as per the latest Naukri survey conducted with 50,000 job seekers.
