Last Updated : Mar 14, 2018 03:05 PM IST | Source:

Monster Employment Index up 16% YoY in Feb 2018; manufacturing sector most active

Apart from home appliances, production and manufacturing saw a 59 percent growth compared to last year

Moneycontrol News @moneycontrolcom

Online recruitment activities in February 2018 grew 16 percent year-on-year, according to the Monster Employment Index, up from 12 percent in January.

Among job intensive sectors, production and manufacturing (up 59 percent) has been one of the most active industry sectors with 11 percent increase in e-recruitment between January and February. The sector also recorded the highest growth since December 2015.

The growth rate of production and manufacturing matched that of the home appliances (up 59 percent) which continue to lead the year-on-year growth chart, however, for the first time the year-on-year growth momentum in the sector slowed in the past three months.

The year-on-year demand in Banking/Financial Services, Insurance (up 34 percent) or BFSI moderated between January and February. However, online demand in retail (up 13 percent) picked up and the sector saw a 24 percent increase in demand on a month-on-month basis which was the steepest growth among all monitored sectors.

Monster March

Among other sectors, the year-on-year growth rate in IT-Hardware, Software (up 22 percent) lingered at the same level as January 2018.

With respect to the city-wise data, Kolkata (up 45 percent) recorded the most notable annual growth rate. This was followed by Baroda (up 37 percent) which registered the strongest growth e-recruitment activity on the month among all monitored cities and Ahmedabad (up 33 percent).

E-recruitment activity in Chennai slowed to a rate of 5 percent from 6 percent in January, while Delhi-NCR (up 1 percent) saw the least growth among all monitored cities.

Abhijeet Mukherjee, CEO, APAC & Gulf said that the Budget 2018 focused on the revival of rural economy and job-creation.

“This has provided a much-needed impetus to Production and Manufacturing sector, which has seen an upward growth at 59 percent y-o-y for the first time since December 2015, thereby, laying the strong foundation for the growth of Indian economy,” he added.

The good news however did not extend to all sectors. The government/public sector undertaking/defence (down 37 percent) recorded the steepest annual decline among all monitored industry sectors even in February.

Launched in May 2010 with data collected since October 2009, the Monster Employment Index is a monthly analysis of online job posting activity in India conducted by Monster India.  Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, including Monster India, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.
First Published on Mar 14, 2018 03:05 pm

tags #Economy #HR

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