The latest Monster Employment Index for August 2018 has registered a 5 percent y-o-y decline in online recruitment activities, exhibiting downtrend for the third successive month. The index highlighted the steepest growth in the production and manufacturing sector. This sector registered 4 percent growth between July to August.
In the monitored job roles, the y-o-y demand for healthcare professionals was up by 21 percent. The HR & Admin (up 19 percent) and Finance & Account (up 16 percent) were the next most sought-after occupation groups despite a reduction in the pace of growth when compared to the previous month.
The Retail (up 48 percent y-o-y) sector which performed well in the index has seen a sharp increase in online hiring and became the second most sought out sector for this month. M-o-M, online demand in the industry registered a rise of eight percent over and above the 16 percent growth recorded in the previous month.
According to Abhijeet Mukherjee, CEO of Monster, APAC & Gulf, the strong performance of the manufacturing and production sector has a positive growth GDP growth momentum. He said, “The current ease in hiring activity is indicative of a cautious hiring scenario owing to merger & acquisitions and increasing demand for skilled candidates. Furthermore, the Retail sector has shown a phenomenal growth surge which can be attributed to a spurt in online shopping owing to end of season sale and discounts.”
He added, “The demand for freshers with 0-3 years of experience is on the rise especially for job roles such as HR & Admin as well as Legal, which re-emphasizes the need for proper guidance and training programs for young talent.”