Hiring Demand in India Grew by 15% Since Last Year: Survey

As economic activities continue to surge, the job market is witnessing recovery across several sectors that were impacted by the pandemic, showcasing the highest growth in the month of April, reports the Monster Employment Index (MEI). India has registered an overall growth of 15 per cent year-on-year and 4 per cent month-on-month in hiring demand as a result of increased positive business sentiment, it added.

As per the survey, while, leadership roles with experience of more than 16 year exhibited steepest growth of 29 per cent amongst all experience levels, inter-mediate and mid senior level roles showed growth of 24 per cent and 22 per cent respectively. Fresher roles or entry level roles too showed stable growth.

BFSI continues to remain the fastest job recovering sector with a 54 per cent annual growth rate followed by retail that grew 47 per cent annually and then production and manufacturing industry at 35 per cent, the report added. Further, following improvement in supply chain disruptions and global mobility resuming, growth has been witnessed in import and export (29 per cent) and travel and tourism (15 per cent) sectors as well.

This apart, the upcoming 5G rollout also seems to have spurred demand in the telecom/ISP industries (up 33 per cent). In fact, real estate, which exhibited a continuous dip in year-on-year hiring demand since April 19, saw a recovery of 26 per cent on the back of improved consumer sentiments who are now enthused by an upward looking market, it added.

However, the media and entertainment (17 percent) still observed fewer job opportunities since last year. Although a marginal dip has been registered in engineering, cement, construction, and iron/ steel (down 1 per cent), the industry has seen a revival in job activity this month, according to the survey. The report also claims that online demand for finance and accounts has also increased up by 49 per cent. Likewise, the demand for HR & admin is also up by 36 per cent, and customer service by 8 per cent.

The survey adds that among the cities, Mumbai again leads in providing jobs on a yearly basis, followed by Coimbatore. Mumbai at 29 per cent, followed by Coimbatore at 25 per cent), Chennai at 21 per cent), Bangalore and Hyderabad by 20 per cent each. Rest all metro cities Delhi-NCR, Kolkata and Pune continued to reflect a positive year-on-year growth trend in the range of 6 to 18 percent, the report claims.

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