Hiring demand falls 3% sequentially in October: report
MUMBAI: Hiring demand witnessed a dip of 3% in October sequentially, mainly due to a decline in recruitment of professionals in purchase, logistics and supply chain after festive hiring hikes in September, according to a report.
Data from the Monster Employment Index indicates that hiring demand witnessed a 3% dip in October as compared to September 2021.
However, there has been a strong year-on-year recovery with a 9% uptick in October compared to the same month in 2020, it added.
“In October, we saw a monthon-month decline in hiring activities by 3%. This is a yearly trend we observe following festive hiring hikes.
“It is encouraging to see the travel and tourism industry dust off from the pandemic impact and truly pave its way to revival. We also see promising back-to office trends with increasing automation and a huge spike in demand for office supplies,” Sekhar Garisa, chief executive officer of Monster.com, a Quess company. Moreover, the recruitment space is looking up for entry-level talent as more and more organisations are looking to hire freshers, he added.
The Monster Employment Index is a monthly broad and comprehensive analysis of online job posting activity conducted by Monster India.
The Index further showed that as more and more organisations continue to resume work in physical offices and increasing automation efforts, the office equipment or automation (30%) industry witnessed the highest month-on-month rise in job postings, followed by the reviving travel and tourism (7%) and telecom or ISP (5%) industries.
Industries such as banking, financial services, insurance (4%), IT-hardware and software (3%), advertising, market research, public relations (2%), education (2%) and retail (1%) also showed a positive monthly uptick, according to the Index.
Most industries continue to retrieve hiring numbers. Few sectors such as shipping and marine (-11%), healthcare, biotechnology and life sciences, pharmaceuticals (-3%), production and manufacturing (-1%), media and entertainment (-1%) and BPO or ITeS (-1%) witnessed a month-on-month decline in job postings in October.
It added that with the continuing revival of the travel and tourism industry in October, hiring for professionals in hospitality and travel (5%) saw the highest month-on-month growth in October 2021.