News: Monster Employment Index India Rises by Five Points in September

C-Suite

Monster Employment Index India Rises by Five Points in September

The Monster Employment Index rose 5 points (4%) in September, as online recruitment activity rebounded from eased levels of the prior summer months
 

Online demand edged up in 10 out of 14 occupational groups monitored by the Index in September

 

The Monster Employment Index rose 5 points (4%) in September, as online recruitment activity rebounded from eased levels of the prior summer months. Twenty-one of the 27 industry sectors monitored by the Index exhibited positive month-on-month growth trends. The 11 sectors that exhibited positive six month growth rates in August Index continued to track positive medium term growth in September as well. “In September Indian employers returned to the recruitment market in substantial numbers following the summer months’ lull in activity, as indicated by the Monster Employment Index India. The longer-term trends in the Index continue to track the country’s economic expansion, with a rise in hiring for sectors like IT, ITES, Engineering, Construction, Iron and Steel; Healthcare, Automotive suggesting continued strength in business activity,” said Sanjay Modi, Managing Director (India/Middle East/South East Asia). The Real Estate sector maintained its position in leading all industry sectors in monthly and six-month growth with 17% and 83% respectively. The IT sector saw significant rise in online recruitment activity for the second consecutive month. The sector also registered a robust 52% six-month growth. Recruitment activity in the BPO/ITES sector rebounded to match July levels with a 6% month-on-month growth after easing in August. Online jobs in the Healthcare, Bio Technology & Life Sciences, and Pharmaceuticals sector rebounded in September. The sector saw an 8% growth in the index for the first time since April 2010. The month of September saw online hiring rebound in the Engineering, Cement, and Construction, Iron / Steel sector. Production and Manufacturing; and the related Logistic, Courier/ Freight/ Transportation also registered significant improvement in online job opportunities indicating gradual improvement in the manufacturing and commerce sectors following the low levels observed in the previous months. Job opportunities in the Banking, Finance and Insurance (BFSI) sector contracted by an additional 9% in September over the August levels. The index level for the sector also fell short of the six-month ago level by 8%. Both month-on-month as well as medium-term dip, however, is of a lesser degree than those observed in August.
Online demand edged up in 10 out of 14 occupational groups monitored by the Index in September. Mirroring trends in the IT sector, demand for IT professionals rebounded to record this month’s largest gain among all occupation groups. Online demand for the Customer Service professionals, as indicated by the index, improved witnessing the first positive monthly growth (1%) in five months. By contrast, the index fell short of the six-month levels by 20%; a much higher drop when compared to 4% in August. Finance and Accounts jobseekers faced further restrained levels of hiring in September. With an additional 2 point dip, the index reached its lowest level since January 2010.

The occupational group also witnessed one of the steepest medium-term dips; the group dipped by 16% over the past six months. Recruitment levels remained at the same elevated August levels for Engineering and Production professionals in September, the group exhibited one of the strongest six-month gains among all occupation groups.

The month saw significant expansion in online opportunities available for Senior Management personnel. Professionals in Hospitality and Travel saw improved demand levels after consecutive dips in July and August. Online job opportunities in Marketing and Communications; and Sales and Business Development dipped further. Sales and Business Development (-3%) registered the steepest decline of the month.
 

Read full story

Topics: C-Suite, Talent Acquisition, #Updates

Did you find this story helpful?

Author

QUICK POLL

What are the top work tech investment focus areas for your company currently?

2 months free subscription
q_auto,f_auto/v1636479037/mag-november-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

What is your strategy to augment employee well-being?

READ the November 2021 issue to know from global leaders how to integrate well-being at work