The Indian job market showed a 3% recruitment growth across industry segments, reflecting optimistic annual trends for the white collar market this June. According to Monster Employment Index published by monster.com, a Quess company, 10 out of 13 cities monitored showed positive job demand in June, with Mumbai up 23%, charting maximum growth among metro cities, and Coimbatore up 19%, representing a substantial demand among tier-2 markets. Hyderabad was up 15%, Delhi-NCR up 13%, and Ahmedabad was up 11%. Single-digit growths were witnessed in Chennai, which was up 8%, Pune up 9% and Bengaluru up 4%.
However, Kolkata saw a dip of 2% in hiring this June, followed by Chandigarh, which was down 5% and Jaipur 3%. “While most tier-2 cities have inched closer to pre-pandemic level of hiring, the demand is down, reflecting current economic conditions and resultant cautious recruiter attitudes,” MEI noted.
While the Index flattened by 2% month-on-month amidst global uncertainties and startup layoffs, a number of segments continued to hire on the back of green initiatives by companies.
Industries such as BFSI, chemical and fertilisers, travel & tourism, production and manufacturing have exhibited positive job trends, contributing to the overall annual growth in recruitment activity with sustainable finance, green jobs and hospitality roles charting tremendous upswing in demand for talent. Across cities, metros continued to top the charts in line with previous months indicating post pandemic job recovery.
Across experience levels, the demand for top management with over 15 years of experience remained the least impacted in the thick of ongoing downsizing, showcasing maximum growth in hiring at 15% on a year-on-year basis and 3% on a quarterly basis.
Sekhar Garisa, CEO, Monster.com said, “The Indian job market has continued to grow at a considerable pace with newer segments backed by the green revolution coming into play. We see tech-enabled industries garner more growth and innovate through this strenuous period, which is quite encouraging as India moves into a more digital-disruptive phase than ever before. While concerns over startup layoffs continue to linger, it is important to note that they represent a very small portion of the overall job pie and several industries today have outperformed their targets to contribute to the larger growth story of our nation.”