Online hiring activity sees relative slowdown Oct: Report
Online recruitment activities moderated in October compared to the previous month but the hiring outlook looks bullish in future, says a report.
The Monster Employment Index for the month of October stood at 281, registering a 13 per cent year-on-year growth over last year, when it stood at 249. In the month of September however, the index had registered a 15 per cent year-on-year growth.
"The Monster Employment Index reveals a relative slowdown in the online recruitment activity. While the numbers are still good, there is a moderate drop in hiring activity from 15 per cent in September 2017 to 13 per cent in October 2017," Monster.com MD APAC & Middle-East Sanjay Modi said.
He further said, "the economy is on strong macroeconomic fundamentals and points out a growth pick-up. With the recent initiatives such as recapitalisation of banks being announced by the government, we are optimistic that this dip is temporary and will soon fade away".
According to the report online demand surpassed the year-ago level in 22 of the 27 industry sectors monitored by the Index.
Home Appliances continued to lead the long-term growth chart with 48 per cent year-on-year growth despite moderation in the pace of growth as against in September 2017.
Online hiring in banking/ financial services, insurance eased to 34 per cent in October 2017 from 45 per cent in September 2017.
In terms of cities tier II markets are outpacing metros growth chart when it comes to online hiring.
Baroda (up by 31 per cent) recorded the highest growth, hiring activity in key metros such as Delhi (down 8 per cent), Chennai (down 4 per cent) declined further.
Another noteworthy development has been in the production and manufacturing sector, where the recruitment has displayed a positive growth for the first time since 2016.
The Monster Employment Index is a monthly analysis of online job posting activity in India conducted by Monster India and represents a snapshot of employer online recruitment activity nationwide.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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