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Monster Employment Index for June 2018 registered 3 per cent year-over-year (y-o-y) decline in online recruitment activities, with a m-o-m decline of 8 percent. However, the Production and Manufacturing sector continues to exhibit the highest long-term y-o-y growth at 49 per cent amongst the other sectors analyzed for the third consecutive month. While the annual growth momentum eased between May 2018 and June 2018, the short-term growth parameters indicated buoyant growth in the sector. The sector also registered 2 per cent increase in hiring activity on a month-on-month (m-o-m) basis.
Media & entertainment (up 26 per cent y-o-y); Education (up 17 per cent y-o-y); and Retail (up 17 percent y-o-y) were the most active sectors despite moderation in pace. Home Appliances also continued its upswing in online demand with a y-o-y growth of 27 percent.
The present newsmaker, Telecom/ISP sector exhibited a significant drop in the y-o-y growth momentum which eased further from 21 per cent in May 2018 to 17 per cent in June 2018. Month-on-month, the sector recorded three per cent decline in e-recruitment activity.
Printing/Packaging sector witnessed the steepest decline; (-) 27 per cent y-o-y and (-) 15 per cent m-o-m.
There has been a notable increase in demand for healthcare professionals exceeding the corresponding period a year ago by 24 per cent; the highest recorded among all monitored job roles. Finance & Account was the second most demanded job role registering a y-o-y growth of 21 percent.
Commenting on the trends, Abhijeet Mukherjee, CEO, Monster.com, APAC & Gulf said: “The slower online hiring growth could be owing to the on-going mergers & acquisition landscape across several sectors where employers are exhibiting caution in their hiring plans. On the other hand, the Production and Manufacturing sector continues an upswing owing to favourable demand conditions. Telecom and ISP sector struggle amidst a difficult landscape but hopefully the new telecom policy expected by July-end will provide the much-needed stability.”
City-wise data shows improved online hiring demand in all major cities. Y-o-y Jaipur (up 10 per cent) led all monitored cities, followed by Chandigarh (up 9 per cent) and Coimbatore (up 8 per cent). Month-on-month, online recruitment activity plunged in each of these cities. Year-on-year, online recruitment activity declined the most in Baroda (down 15 percent). The city also recorded 11 percent decline on the month.
Production and manufacturing (up 49 per cent) led all monitored industry sectors by the way of long-term growth for the third month in succession. While the annual growth momentum eased between May and June 2018, the short-term growth parametres indicated buoyant growth in the sector. The sector registered two percent increase in hiring activity on a month-on-month basis. Available opportunities were one percent and 14 per cent higher than the three-month and six-month ago level.
Online hiring receded in all major sectors this month. Engineering, cement, construction, iron/steel (up 7 per cent) and banking/financial services, insurance (up 5 per cent) recorded single-digit growth year-on-year.
Online recruitment activity in healthcare, bio-technology and life sciences, pharmaceuticals matched the corresponding period a year ago.
Online hiring activity in IT — hardware, and software recoiled to the level attained during the same period a year ago. The sector witnessed fewer opportunities on the month by 9 per cent. BPO/ITES sector, on the other hand, exhibited signs of recovery. The year-on-year growth rate picked up five percentage points from minus 23 per cent in May to minus18 per cent in June 2018.
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