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Hiring momentum exceeds pre-pandemic levels in March: Monster Employment Index

Online recruitment in March exceeded the year-ago level in 11 out of 13 cities monitored by the index.

April 20, 2022 / 02:18 PM IST

Hiring in India grew six percent year-on-year in March as recruitment continued across a broad range of sectors even as it dipped 2.4 percent sequentially owing to appraisal season, Monster Employment Index (MEI) showed on April 19.

Commenting on job trends, Sekhar Garisa, CEO of Monster.com, said, “Two years into the pandemic, it is heartening to see that the Indian economy has overcome setbacks and challenges with hiring momentum exceeding pre-Covid levels by six percent this year compared to 2020. Sectors such as banking and telecom have undoubtedly contributed to the overall revitalisation of employment generation in the country.

"It is also encouraging to see a substantial rise in business activity across Tier-II cities given that smaller cities have historically weathered the adverse effects of the pandemic crisis with a surplus talent pool to boot. As India Inc continues to adopt the hybrid and back-to-office work models, we hope to see a continued recovery and a step forward to normalcy in the coming months,” he added.

Online recruitment in March exceeded the year-ago level in 11 out of 13 cities monitored by the index.

All metros registered double-digit growth on an annual basis. Mumbai continues to be the biggest job market up by 21 percent, closely followed by Coimbatore (20 percent). Third on the list of e-recruitment is Chennai and Hyderabad with hiring up 16 percent each. In Bengaluru it was up 15 per cent and Pune recorded 12 per cent growth while Kolkata and Delhi-NCR registered 13 per cent rate each.

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The index showed that hiring in March 2022 was driven by banking, financial services and insurance which rose 37 per cent followed by telecom/ISP up 17 per cent and production and manufacturing up 16 percent.

In addition to this, the jobs rebounded for hospitality and travel personnel, up 11 percent.

However, engineering, cement, construction, and iron/steel was down 20 percent and continued to witness a year-on-year decline since April 2020, registering the sharpest deceleration among sectors.

Growth moderated further for media & entertainment (down 16 per cent) and FMCG, food & packaged food (down 13 per cent) industry.

In terms of functions, IT-hardware & software, HR & admin along with finance & accounts job roles marked a double-digit growth in all metros.

More and more organisations have hired top management level employees (up 34 per cent) followed by mid-senior level (up 22 per cent), intermediate level (up 20 per cent) and senior-level (up 13 per cent). Entry-level jobs witnessed a growth of eight per cent on the back of campus hiring.

In BFSI, roles in financial statement, wealth management, investment banking and cybersecurity saw an increase in job openings. In terms of tech, the emergence of metaverse and its potential applications created a lot of career opportunities in new skill areas.

While brands and enterprises continue to value creativity and human-centered design with tech-enabled applications, job roles such as design architects, software designers, system validation engineers, 3D artists, AR/VR maintenance and support, and design/graphics engineer are expected to be in high demand in the coming months, the index said.

 
Moneycontrol News
first published: Apr 19, 2022 12:33 pm
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