Production & Manufacturing Lead Online Hiring
Employment index registered decline for the fifth successive month, registering 5% y-o-y decline for October 2018
Monster Employment Index for October 2018 registered 5 percent Y-o-Y decline in online recruitment activities, exhibiting downtrend for the fifth successive month. However, the production and manufacturing (up 58 percent) sector registered the steepest year-on-year growth among all monitored industry sectors for the seventh month in succession.
Inspite of the festive season, the year-on-year growth rate for retail sector (up 26 percent) and home appliance (up 22 percent) sectors, were significantly lower than that registered in September 2018. A 10 percent de-growth in retail hiring is the sharpest month-on-month decline among all sectors monitored. On the other hand, online recruitment in BPO/ITES (up 6 percent) bounced back and the sector registered positive Y-o-Y growth for the first time since May 2017.
Occupation wise, the Y-o-Y demand for Healthcare professionals (up 15 percent) led all monitored job roles. Online demand for HR & Admin supplanted a year ago level by 11 percent. Finance & Account (up 5 percent) was also amongst the top five most sought after profession. However, the growth momentum eased 6 percentage points from 11 percent in September 2018. The sector witnessed first single-digit growth since May 2017.
Online recruitment activity in IT - Hardware, Software (down five percent); and Telecom/ISP (down four percent) continued to be low on the year. Month-on-month demand eased by three percent and two percent respectively. Available online opportunities regressed 11 percent and 20 percent from the six-month ago level.
Online demand for HR & Admin (up 11 percent) professionals continued to be high. Available opportunities supplanted the year-ago level at all levels of experience. The short-term growth parameters, however, indicated slowdown in online hiring for the job role.
City-wise online hiring trend, Chandigarh (up 11 percent) and Pune (up 1 percent) were the only cities to register positive growth on the year. Pune registered a positive growth for the first time in since May 2018 while e-recruitment activity in Jaipur eased below the year-ago level for the first time since May 2017.
Commenting on the trends, Abhijeet Mukherjee, CEO, Monster.com, APAC & Gulf said, “Although the Monster Employment Index has recorded a 5 percent Y-o-Y drop, there are pockets of growth in the online hiring. The steepest year-on-year growth registered in the Production and Manufacturing sector could be a reflection of momentum that the sector saw with the rise in new order flows. The online hiring demand for this sector was upbeat in all key cites this month.”
He also added, “The rebound in the online hiring in BPO/ITes sector, first time in more than a year could be a result of companies reporting an uptick in their digital technology-driven business deals. This in turn opens up requirement for talent with appropriate skill sets.”