With uncertainly growing across the globe and governments taking protectionist measures, jobs in India were significantly affected in April 2017, as compared to the year ago period. The overall job loss across industries was 11 percent in April, but the Information Technology (IT) was the most badly hit, as it reported a 24 percent fall in jobs. This was revealed in a survey conducted by leading jobs portal naukri.com. The jobs have been affected in all major metro cities such as Delhi/NCR, Mumbai, Bengaluru and Chennai. Other industries that were affected include telecom, BPO, insurance and construction.
A 10 percent fall in hiring was witnessed in the BPO sector and 12 percent in ITeS sector. However, banking was an exception, as it witnessed an 11 percent increase in hiring activity in April. Speaking about the development, Chief Sales Officer of Naukri V Suresh said, “As predicted earlier, job market continues to be volatile and the Jobspeak index in April has shown a negative growth of 11 per cent (YOY).” “Though major negative impact seems to be in sectors like IT/BPO/telecom/insurance and construction, there seems to be an air of caution across all sectors and this volatility is likely to continue for a few more months before the markets could move north again.”