With top IT companies slashing down professionals, the global IT-software market was stroked the most with a fall of 24% in hiring in April 2017 as put side by side to April 2016, as per a survey.
Employing activity saw a drop in BPO, telecom, construction, and insurance sectors in the month of April 2017 as put side by side to April 2016. Chief industries such as BPO/ITES and construction saw a 12% and 10% drop, in that order, while banking witnessed an increase of 11% in employment in the month of April 2017 as put side by side to April 2016, the survey further stated said.
“In general, the job market witnessed a fall of 11% in new jobs, with IT-software market most impacted. IT-Software market was impacted the most with a decline of 24% in hiring in April 2017 as put side by side to April 2016,” said the report. The index of jobs in April saw year-on-year drop in chief metros such as Mumbai, Delhi/NCR, Chennai, and Bengaluru, it added.
6 out of the 8 metro cities saw a drop in employing activity in April 2017. The index for Mumbai, Delhi/NCR, Bengaluru, and Chennai saw a drop of 18%, 28%, 28%, and 29% in that order, while Ahmedabad and Kolkata saw an increase of 19% and 10%, correspondingly, as put side by side to April 2016, the survey noted. The utmost number of new jobs were produced in the category of 0-3 years of experience.
Speaking on the report, Chief Sales Officer, V. Suresh, said: “As anticipated previously, job market carries on being unstable and the index of job in April 2017 has shown a depressing growth of 11%.” “Although chief pessimistic impact appears to be in industries such as IT, BPO, telecom, insurance, and construction, there seem to be an environment of carefulness across all industries and this instability is expected to carry on for a few additional months before the industry can move up again.”
For now, the cutting down of heads in the industry is surely having a negative impact on the global IT-software market.