Hiring activity grows 6% in March on improving economic activity: report


After a long hiatus, hospitality and travel staff jobs rebounded (up 11%).

After a long hiatus, hospitality and travel staff jobs rebounded (up 11%).

According to a report, hiring activity grew 6% year-on-year in March this year, helped by a rebound in economic activity and led by sectors such as banks and telecoms.

However, according to the Monster Employment Index (MEI), there was a modest 2.4% drop in hiring activity compared to February due to appraisal season.

“Two years on from the pandemic, it is encouraging to see that the Indian economy has overcome setbacks and challenges, with hiring momentum this year exceeding pre-COVID levels by 6% compared to 2020,” said Monster CEO Sekhar Garisa. com, a Quess company.

Mr. Garisa further noted that “As India Inc continues to roll out the hybrid and back-to-office working models, we hope to see further recovery and a step forward towards normalcy in the coming months.” In March, online recruitment activity exceeded the prior-year level in 11 of the 13 cities covered by the Index.

All subways have seen double-digit growth annually, she added.

The Monster Employment Index is a comprehensive monthly analysis of online job posting activity conducted by Monster India.

March hiring demand was driven by banking/financial services and insurance, which posted a notable improvement (up 37%), followed by telecom/ISP (up 17%) and manufacturing and manufacturing (up 16%).

In addition, hospitality and travel staff jobs (up 11%) have been recovering after a long time and have seen significantly improved demand on an annual basis.

However, machinery, cement, construction and iron/steel (down 20%) have continued to post a year-on-year decline in the series since April 2020, posting the sharpest deceleration among sectors.

The pace of growth has continued to moderate in media and entertainment (down 16%) and FMCG, food and packaged food (down 13%), declining annually as of March 2022, according to MEI data.

In addition, the report revealed that Mumbai remains the largest labor market, closely followed by Coimbatore in Tamil Nadu.

It’s also encouraging to see a significant increase in business activity in Tier II cities, as smaller cities have historically cushioned the negative impact of the pandemic crisis with an excess talent pool, Mr Garisa said.

According to the report, the country’s financial capital (up 21%) led all monitored cities for the first time on an annual basis, followed by Coimbatore (up 20%), Chennai and Hyderabad (both up 16%).

E-recruitment activity in Bengaluru (up 15%) showed a positive trend but was lower than previous months, it noted.

While Pune saw 12% growth, Kolkata and Delhi-NCR each saw 13% growth, the report said.

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