Online hiring activity registered a seven percent year-on-year growth in May driven by sectors like telecom/ISP and banking/financial services, insurance (BFSI), according to the Monster Employment Index. The Monster Employment Index India stood at 258, registering a 7 percent increase over the corresponding period last year.
“Monster Employment Index suggests a sluggish pace of seven percent year-on-year growth with hiring activity primarily driven by sectors such as telecom/ISP and banking/ financial services, insurance,” said Sanjay Modi, Managing Director, Monster.com, APAC & the Middle-East.
Among the top growth sectors, telecom/ISP continue to lead the long-term growth chart with a 49 per cent rise despite increasing speculations of massive job loss in the sector due to ongoing consolidation led by key players.
He further noted that with increasing automation, demand for niche skills may grow in IT amidst changing landscape. This may lead to additional focus on re-skilling and up- skilling in the sector. The long-term growth rates have paced up in both the sectors.
Modi further noted that “the implementation of GST is expected to revive the job market in the coming months. The new tax system will have a positive impact on ease of doing business thereby making it conducive for foreign investors and companies. This would help better execution of all government initiatives and propel formal job creation”.
In terms of occupation, online demand exceeded the year- ago level in eight of the 13 occupation groups monitored by the Index as demand for customer service saw the steepest growth among job roles; up 28 per cent year-on-year. City-wise data shows that Kolkata (up 30 per cent), Ahmedabad (up 18 per cent) followed by Coimbatore (up 13 per cent) recorded the steepest year-on-year growth.
Among metros, Mumbai (up 7 percent) is the only percent registered a slight increase, while annual growth trend in Bangalore (down 2 per cent) and Chennai (down 7 per cent) recorded lowest annual growth rate, the report said.