IT-hardware and software industry keeps hiring activity in positive zone

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August 27, 2021 3:15 AM

Banking, financial services & insurance (BFSI) and shipping are the other industries that posted a decent growth in hiring with e-recruitment activity showing a 32% y-o-y and 31% y-o-y growth in July, respectively.

In terms of locations, Bengaluru, Pune and Chennai indicated a strong demand for talent.In terms of locations, Bengaluru, Pune and Chennai indicated a strong demand for talent.

Hiring activity maintained its growth momentum in July led by the IT-hardware and software industry. The sector registered a 39% year-on-year increase in hiring of professionals last month (July 2021 vs July 2020), according to the Monster Employment Index (MEI) released on Thursday.

Banking, financial services & insurance (BFSI) and shipping are the other industries that posted a decent growth in hiring with e-recruitment activity showing a 32% y-o-y and 31% y-o-y growth in July, respectively.

In terms of locations, Bengaluru, Pune and Chennai indicated a strong demand for talent.

Bengaluru recorded a significant 57% y-o-y increase in job postings in July followed by Pune with a 35% y-o-y growth in postings last month. Chennai showed a 29% y-o-y rise in postings during the period. Kolkata, Jaipur and Baroda, however, continued to face challenges in hiring activity.

“While the global impact of the pandemic and its variants continues to be seen, it is encouraging to note that hiring demand has increased by 10% in the last three months. Data from the index indicates that compared to June 2021, July 2021 witnessed a notable overall monthly growth of 4% in hiring. Overall job postings have also improved by 8% year-on-year (July 2021 v/s July 2020), indicating a continued optimistic outlook for the coming months,” Monster.com said in a statement.

Job postings in the Covid-battered travel and tourism sector have seen a steep uptick month-on-month in July at 16% as tourist locations reopened and pick up in vaccinations encouraged people to travel. Industries such as government/PSU/defence and media & entertainment have seen a decline in hiring activity month-on-month, the index showed. Healthcare functions surprisingly have seen a 21% decline in job postings year on year in July. “This is despite the spike in hiring that the sector saw immediately after the lockdown easing in June 2020. While there was a surge in the requirement for healthcare workers during the peak of Covid-19 (June-July 2020), along with increased demand from pharma research companies while the vaccine was being developed, this demand subsequently slipped, and a fluctuating trend has been witnessed in line with the development of the Covid-19 situation,” the company said.

On an overall monthly basis, location wise data indicated that there has been no decline in job postings across cities monitored by the index.

Sekhar Garisa, CEO at Monster.com, said that jobs in sectors such as tech and IT are booming as companies are coming forward to boost their tech enablement and improve workforce efficiency. “While some industries are doing better than others, we can be confident of seeing improvement in the coming months, given the active vaccination drives currently underway. Hiring activity, along with the economy in India, is on the mend as sectoral revival is in progress consistently over the past couple of months,” Garisa added.

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