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Hiring in IT, software sectors surges 9% yoy, job market up 2%

Author: IANS/Thursday, August 24, 2017/Categories: Economy

Hiring in IT, software sectors surges 9% yoy, job market up 2%

New Delhi, Aug 24 - After having witnessed a spell of layoffs in the previous quarter, hiring in the IT and software industry has witnessed a surge of 9% year-on-year (yoy) during July 2017, a survey said.

According to the survey, the Naukri JobSpeak index rose by 2% in July 2017 indicating signs of recovery in the job market.

Data collected by the job site showed that key industries like banking or financial services saw a growth of 7%, followed by insurance of 17% and automobiles of 5% in July 2017 compared with the corresponding month of 2016.

However, it noted that business process outsourcing (BPO) and knowledge process outsourcing (KPO) jobs dipped by 17% during the period under review.

"Looks like the job market is showing signs of recovery. The Jobspeak index for July has shown a yoy growth of 2%, primarily driven by a 9% growth in the IT sector," V. Suresh, Chief Sales Officer,, said in a statement.

"Having said that, the market is still volatile and we can expect this to continue for a few more months before it heads north," he added.

The survey said nine cities -- out of 13 tracked -- recorded an increase in hiring activities in July 2017 in comparison with July 2016.

"The index for Delhi/NCR, Mumbai and Bengaluru grew by 12%, 17% and 12%, respectively," the survey said.

"While Chennai saw a dip of 10% in hiring activity, Hyderabad recorded a 19% increase during the same period." 

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