Online recruitment activity registered a 24 per cent jump in November - the highest this year - as the impact of demonetisation and GST seems to be bottom out, says a survey.
Online recruitment activity registered a 24 per cent jump in November – the highest this year – as the impact of demonetisation and GST seems to be bottom out, says a survey. The Monster Employment Index for November stood at 297, up 24 per cent over the year-ago period when it stood at 240. Month-on-month also, the hiring activity improved 5.69 per cent in November. “The impetus towards improving macroeconomic fundamentals and the slowdown in the economy due to demonetisation and the adjustment impact of GST implementation seems to be bottoming out, placing India on an upward trajectory,” said Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East. Online demand surpassed the year-ago level in 21 of the 27 industry sectors monitored by the Index and home appliances continued to lead the long-term growth chart with 72 per cent year-on-year among all monitored industry sectors.
Moreover, all the 13 occupation groups monitored by the Index registered increased demand, year-on-year. City-wise data showed that there has been improvement in online recruitment activity. Kolkata (up 51 per cent) recorded the most notable annual growth rate among all monitored cities, followed by Baroda (up 46 per cent). Bangalore (up 16 per cent), Chennai (up 13 per cent) and Delhi-NCR (up 6 per cent) also witnessed positive growth on the year. “Interesting thing to observe is that tier II markets were seen outpacing metros in terms of online hiring but, in November, we have witnessed a significant surge in demand in key metros such as Kolkata, Mumbai and Chennai,” Modi said. He further added that “another noteworthy development has been in the IT sector, where the recruitment has displayed a positive growth and showcases an optimistic scenario from a long-term perspective and recovery of the sector.”