Online recruitment activity in August registered a growth of 17 percent over the corresponding period last year led by robust hiring in education and banking sectors, says a Monster India report. The Monster Employment Index India for the month of August stood at 244, registering a jump of 17 percent over the corresponding period last year when the index stood at 208.
"Ongoing digitization in the banking sector and consolidation in the insurance sector has significantly contributed towards job creations for the skilled talent," Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East said.
There was a slump in usual employment generating sectors, like IT and production & manufacturing, but sectors like banking & finance and education managed to keep the hiring scene buzzing. The banking and finance sector (BFSI), which is currently undergoing series of reforms, has shown a positive online hiring trend this month with a year-on-year growth figure of 30 percent. Education sector continues to chart a long-term growth owing to special impetus by the government since the budget of 2016.
Modi further noted that among sectors, production and manufacturing recorded the steepest year-on-year decline of 14 percent. At the occupational level, online demand for customer services professionals and healthcare professionals suggested improved growth numbers of 46 percent and 38 percent respectively.
Tier II cities register higher growth numbers
City-wise data paints a positive picture for tier-II cities with Chandigarh (up by 36 percent), Jaipur (up by 34 percent) and Coimbatore (up by 29 percent) show an uptrend in the YoY growth chart.
"Tier-II markets continue to outperform the metros. Chandigarh, Jaipur and Coimbatore are leading with impressive growth figures of 36 percent, 34 percent and 29 percent respectively, whereas metros like Delhi (up by 15 percent), Bengaluru (up by 26 percent), and Chennai (up by 15 percent), have shown the lowest growth this month," Modi said.