August sees 14% year-on-year increase in recruitment activity: Monster Employment Index
Monster Employment Index shared its findings for August 2021, providing insights into the job market across industries, cities, functions, and levels.
According to the study, there has been a reasonable increase in job posting activities in August 2021, with a 14% increase compared to the previous year i.e. August 2020.
Sekhar Garisa, CEO - Monster.com, a Quess company said, “With India recovering from the second wave of the pandemic, there has been positive stable growth in job postings in the month of August 2021. Moreover, with the imminent festive and seasonal demand, we expect hiring activity to flourish in the coming months, as we have already seen in the Textile and Manufacturing industries. The hiring landscape across metropolitan cities has also been consistently on the rise since May 2021, across sectors.”
Key Points :
- Garments/ Textiles/ Leather, Gems & Jewellery industries witnessed the highest month-on-month growth at 24% (Aug 2021 vs July 2021), driven by festive hiring demand.
- Production and Manufacturing (8%), Oil/Gas/Petroleum/Power (6%), Shipping/Marine (4%), and BPO/ITES (3%) industries also saw a boom in online demand due to festive hiring.
- Software, Hardware, Telecom (50%) and Finance & Accounts (11%) functions saw significant growth in hiring across cities, year-on-year (Aug 2021 vs Aug 2020).
- Marketing and Communication function marked double-digit monthly growth at 17% (Aug 2021 vs July 2021) while Customer Service (2%), Software, Hardware, Telecom (2%), and Hospitality and Travel (1%) functions witnessed moderate incline in the same period.
City wise, demand for talent continues to flourish in metropolitan (Tier-1) cities such as Bangalore (59%), Hyderabad (34%), Pune (40%), Chennai (37%), Delhi-NCR (14%), and Mumbai (16%) on a year-on-year basis (Aug 2021 vs Aug 2021). The flourish is largely driven by the IT- Hardware, Software industries. The rapid growth of startups in metro cities and government initiatives such as Make-in-India have largely accounted for this growth.
According to the study, Tier-2 cities like Coimbatore (7%) has recorded a rise in hiring activity but Jaipur (-20%), Kolkata (-16%), Baroda (-11%), Ahmedabad (-6%), and Chandigarh (-1%) witnessed a dip year-on-year, due to talent preferring moving to Tier-1 cities for job opportunities.
As the world gets used to the post-pandemic climate, it will be interesting to see how the talents manage to find their respective opportunities in Tier-1 and Tier-2 cities.