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Hiring activities declined by 61 per cent in May due to the nationwide lockdown to contain COVID-19 pandemic

The coronavirus impact can be observed in every corner of the economy and a significant impact can be seen in the form of a steep fall in hiring activity. In the month of May, hiring activity fell down by 61 per cent and in June it further fell to more than 60 per cent, job portal Naukri.com said on Monday.

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In May, the decline in hiring was observed in the hotel & restaurant, travel & airline industries that is  -91 per cent, followed by retail which stands at -87 per cent, auto/ancillary with -76 per cent, and BFSI at -70 per cent.

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Coming to the metro cities Kolkata fell by 68 per cent, Delhi by 67 per cent and Mumbai by 67 per cent. The decline in hiring activities in Kolkata was mainly led by auto and ancillary by 98 per cent followed by hospitality sectors with 94 per cent.

The decline in recruitment activities in Delhi and NCR, mainly in the hospitality and accounting industries decreased by 94 per cent and 81 per cent, respectively.

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Meanwhile in Mumbai hiring activities in the hospitality and auto sectors saw a dip of 93 per cent and 80 per cent, respectively.

The recruitment activity across experience levels slipped down by an average of 64 per cent.

Pawan Goyal, Chief Business Officer of Naukri.com quoted, “The extension of the lockdown has resulted in a continued decline in hiring activity for the third consecutive month.”

The hiring for senior-level executives (4-7 years) fell 62 per cent, while in middle management (8-12 years) roles it declined by 55 per cent, senior management (13-16 years) by 50 per cent and leadership roles (over 16 years) by 48 per cent, the report added.

 

Also read:-sebi asked listed companies to disclose to investors impact of covid-19 on business