There is some good news for all IT-Software professionals as the job market looks upbeat and hiring numbers for the quarter (Jul to Sept'10) are similar to pre- recession levels. Tracking the Naukri job speak index which provides a monthly snap shot of the jobs created sector wise in the country, we see that the slowdown hit the IT sector around Oct-08 and continued all through 2009.
As indicated from the above table we see that in May-09 the index dipped to an all time low of 626. This was 37% lower than what it was in July-08 when the index was started. We then see a minor recovery in the index from Jul-09 onwards and the index reached the 726 mark in Dec-09. Strong hiring trends although were seen from Feb-10 onwards. The index for Feb-10 clocked impressive growth figures of 25% over the previous month. In April-10 the index surpassed the July-08 levels by 3% for the first time indicating buoyancy back in the environment. The index has maintained steady levels since then.
Commenting on the trend V. Suresh, Executive VP and National head Sales, Naukri.com said "Early Indications basis the stated numbers on campus recruitment by the tech majors suggest that IT industry hiring is expected to hit record highs this year..With increased confidence levels backed by domestic demand and sustained growth momentum, we can expect a surge in Hiring by IT companies across Domains in the next 6- 12 months."
When we look at the demand for professionals in IT- Software sector we see that it is corollary to the jobs created in the sector. The lowest demand for Software Development professionals was seen in May-09 where the index dipped to 620 which is 38% lower than what the demand was in Jul-08. The demand started again picking up in April-10 where the index surpassed the Jul-08 levels for the first time. The highest index till date was seen in Sept-10 where the index figure stood at 1024.
When we looked at the jobs available in the IT sector by location then Bangalore generates about 26% jobs in the sector followed by Delhi and Chennai which respectively generate 17% and 15% jobs in the sector.
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