Online hiring up 6% in February, 4% in March
Telecom/ISP lead longterm growth chart with 25% rise: Monster
Online recruitment activities registered a 6% growth for February and a 4% growth for March, according to the Monster Employment Index. Among job intensive sectors, Telecom/ISP led the long-term growth chart with a 25% despite moderation in the pace of growth as against in February 2017 which was at 28%. This could be attributed to the on-going consolidation in the sector led by major players. The year-on-year growth rate in the Banking/ Financial Services, Insurance sector eased from 51% in February 2017 to 24% in March 2017. The Production and Manufacturing (down 23%) sector recorded the steepest year-onyear decline even in March 2017.
City-wise data shows that Coimbatore (up 23%), Jaipur (up 23%) followed by Baroda (up 22%) recorded the steepest year-onyear growth. Among metros Mumbai (up 10%) was the only city to register a double-digit growth on the year; while annual growth trend in Delhi-NCR (up 3%) and Chennai (up 1%) recorded the lowest annual growth rate.
Of the 27 industry sectors monitored by the Index 16 sectors saw growth in demand year-on-year.
Telecom/ISP (up 25%) and Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides (up 25%) led the long-term growth chart this month. It is notable, however, that the year-on-year growth momentum has eased between February and March 2017 in both the sectors; Telecom/ ISP registered a 28% growth in February 2017 while Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides recorded a 32% growth.
E-recruitment in Banking/ Financial Services, Insurance sector has slowed significantly. The year-on-year growth rate eased from 51% in February 2017 to 24% in March 2017. The sector also witnessed an eight percent decline on the month. However, the sector continued to be among the top sectors, year-on-year.
IT- Hardware, Software (up 4%) recorded a single-digit yearon-year growth this month and also the lowest since October 2013. Demand on the month increased by 2% and matched the three-month ago level. BPO/ ITES sector also witnessed a single-digit growth of 4% this month; the lowest growth recorded since April 2014. At the same time, the sector recorded a marginal 1% drop in demand month-on-month and slipped 17% below the sixmonth level.
Engineering, Cement, Construction, Iron/ Steel sector registered a 2% growth from the corresponding period a year-ago; down from 26% in February 2017.
The Real Estate sector continued to chart a declining trend on the year; down by 8%.
Year-on-year, Automotive/ Ancillaries / Tyres exhibited a flat rate of growth following persistent and positive growth since April 2015. The sector also registered a 1% decline on the month.
Production and Manufacturing (down 23%) recorded the steepest year-on-year decline even in March 2017. The threemonth and six-month growth rate was also negative at -13% and -10% respectively. It is notable however that, this month the sector witnessed a seven percent growth in monthly employment demand following an eight percent and 12% decline in January and February 2017.
E-Commerce recorded a positive growth this month up (up 1%) after having charted a 3% and 4% decline in January and February 2017 respectively. Online demand increased by an additional 3%, month-on-month. E-recruitment in the sector exceeded the three-month level for the first time since July 2016 and matched the six-month level.
IT HARDWARE, SOFTWARE (UP 4%) RECORDED A SINGLEDIGIT YEARONYEAR GROWTH THIS MONTH AND ALSO THE LOWEST SINCE OCTOBER 2013.