Current Affairs Week: 05 Sep 2011 To 11 Sep 2011
According to a survey conducted by recruitment tendering platform MyHiringClub.com, recruitment by Indian IT companies witnessed a slowdown in the month of August 2011 due to the crisis in the US and Europe region. However the survey mentioned the overall hiring mood in the country looked positive. The US accounts for almost 60% of the revenues of the $60-billion Indian IT industry. The data from the survey showed the strong impact of the US and Euro crisis in Indian IT sector hiring.
The survey conducted among 353 employers, including 127 employers from the IT and ITEs sectors mentioned that it would take 2-3 months for recruitment activities in the IT sector to gain momentum.
Hiring activity saw a 49% drop in the IT and ITeS sectors in August vis-a-vis July. In contrast, other industries such as FMCG, banking, telecom and automobiles saw 14% more recruitment in August, compared to July.
A city-wise analysis showed that most cities experienced a lull in hiring activity in the IT and ITes sectors in August 2011. The IT hub of Bangalore saw a 29 per cent decline in August 2011.
Among the metros, the Delhi/NCR region saw a 19 per cent drop in hiring in August compared to July 2011, while Chennai witnessed a fall of 15 per cent. Mumbai and Hyderabad saw a drop of 13 per cent and 8 per cent, respectively, in August 2011
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