There were more jobs on offer in India in December 2020 compared to the previous month, data from two studies has shown.
Both the Monster Employment Index and Naukri Job Speak report saw an uptick in hiring pace in December lead by sectors like healthcare and life sciences and especially in Tier 2 cities. Jobs in the the travel and tourism sector continue to reel under the impact of the Coronavirus lockdown.
Naukri JobSpeak Index for December 2020 showed a 14 percent increase in hiring activity as compared to November. However, there was a 10 percent decline compared to the year-ago period.
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri website month on month. The job speak index includes jobs that might be for replacement hiring. July 2008 is taken to be the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008.
The jobs analysed for the monthly Index are qualified based on white-collar, urban, belonging to organized corporate sector jobs with the focus on service industries.
Similarly the Monster Employment Index showed that Tier 2 markets like Jaipur and Coimbatore saw growth in the number of job postings in December 2020 compared to November 2020. This jobs analysis report is by Monster.com, a Quess Company.
The report said that owing to the pandemic and its impact across various job sectors, the overall index has dropped significantly by 15 percent as compared to the previous year (December 2019).
However in comparison to December 2019, job postings have improved post the pandemic with some industries returning to pre-COVID levels. It said that telecom, agro-based industries, and media/entertainment sectors have witnessed substantial growth.
The Monster Employment Index is a broad and comprehensive analysis of online job posting activity conducted by Monster India. This Index does not rely on job postings on the Monster database alone but is based on the real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets.
Sekhar Garisa, CEO, Monster.com said that while the impact of the pandemic and recovery has been different for each sector, they are optimistic about the coming quarter given the various government and industrial boosts towards economic recovery.
What does the Monster Employment Index show?
As per the report, industries that have witnessed maximum growth in job postings compared to the previous month are chemicals/plastic/rubber, paints, fertilizer/pesticides (15 percent), telecom/ISP (12 percent), and printing/packaging (11 percent).
Agro-based industries, garments/textiles/gems & jewelry; and healthcare, Biotechnology & Life Sciences, pharmaceuticals have also witnessed month-on-month growth of 7 percent respectively. However, industries such as home appliances (-10 percent) and retail (-20 percent) saw the biggest drop compared to November 2020.
But, production and manufacturing (-35 percent), oil/gas/petroleum, power (-38 percent), and travel & tourism (-64 percent) are the most impacted, having seen the highest year on year decline compared to other sectors due to the pandemic.
What does the Naukri report indicate?
The Naukri report showed that large cities like Mumbai and Delhi saw a dip in hiring while places like Chandigarh and Jaipur saw an uptick.
Hiring for freshers remained impacted in December 2020 compared to the year ago. Here, the hiring for entry-level executives (0-3 years work experience) and associates (4-7 years) saw a dip of 19 percent and 10 percent respectively.
However, middle management roles (8-12 years work experience) roles saw growth of 4 percent, senior management roles (13-16 years work experience) grew by 6 percent. Also, leadership roles (16+ years work experience) were up by 3 percent.
Among sectors, the report said that medical/healthcare (11 percent) saw positive growth due to macro-conditions that required intervention from the sector.
But, hiring in hospitality/travel (-60 percent), oil and gas/power (-39 percent), retail (-30 percent), and telecom/ISP (-25 percent) sectors was most impacted at a YoY level in December 2020.