Online recruitment activities in the month of July 2017 registered 13 percent year-on-year growth, according to the Monster Employment Index. This is the highest growth recorded this year.
Among top growth sectors, Banking/ Financial Services, Insurance continues to exhibit long-term growth chart with a 43 percent year-on-year. Month-on-month demand in the BFSI sector moved up by marginal one percent in July 2017, followed by FMCG which witnessed a surge of 34 percent in July 2017 from 33 percent in June 2017.
Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East said, “India is on the verge of transformation due to digital disruption and implementation of GST as a major economic reform. This has led to a positive trend in online recruitment activity. The Monster Employment Index for July has captured this sentiment and reported an uptrend of 13 percent Y-O-Y growth in hiring, the highest recorded this year.”
Industry Year-over-year Trends:
Of the 27 industry sectors monitored by the Index 19 sectors saw increased demand on-the-year.
Banking/ Financial Services, Insurance (up 43 percent) witnessed the second highest growth rate among industry sectors. Month-on-month, demand in the sector moved up by marginal one percent in July 2017.
Engineering sector (up 14 percent) witnessed steep increase in demand following subdued hiring in the past months. This is the first double digit growth recorded since February 2017. The sector also recorded 13 percent growth in demand on the month.
Geographic Trends: E-recruitment activity exceeded the year-ago level in 11 of the 13 cities monitored by the Index.
Kolkata (up 45 percent) registered the steepest annual growth in hiring yet again; the growth rate paced up from 40 percent in June 2017, primarily driven by increased demand for customer service professionals.
Among major cities, Mumbai (up 12 percent) was the only city to exhibit double-digit annual growth rate while Chennai (down two percent) continued to hover below the corresponding period a year ago.
Delhi-NCR (down four percent), on the other hand, slipped below the year-ago level for the first time since November 2012. There was no growth in demand on the month.