The online hiring in India has undergone a vivid decline in the month of June, both on the monthly and yearly basis. A new report by the Monster Employment Index has left everyone surprised as the production and manufacturing sector were portraying strong recruitment activity. The Monster Employment Index registered a 3% YoY decline in online hiring in India in the month of June 2018. If we looked on a month-on-month basis, the employment index dropped by almost 8% in last month. All in all, the online hiring for government services (which includes public sector enterprises and also the defence sector) decreased by 20% YoY in last month.
If you are curious regarding the reason that caused the decline, here is what Abhijeet Mukherjee, CEO of Monster.com – APAC & Gulf, said on this topic.
“The slower online hiring growth could be because of the on-going mergers & acquisition landscape across several sectors where employers are becoming extremely cautious in their recruiting plans”.
If we dig deeper into the report published by monster.com, the printing and packaging sector saw the sharpest decrease in June 2018, numerically which is 27% year-over-year and 15% month-over-month. Moreover, in the firms based on agriculture, the online recruitment declined by a clear 19% in June 2018, when compared with the statistics of June 2017.
Surprisingly, India’s E-commerce sector has registered a 4% YoY decline while there was no increase in e-recruitment in the month of June.
However, on the other side, the production and manufacturing sector remained on the up-front, due to favourable demand conditions. Despite the decline in other areas, the Production and Manufacturing sector registered a 49% YoY increase in its online hiring in June 2018. The report reads that the Production and manufacturing led all industry areas that were being monitored, by the way of long-term growth for the third continuous month.
Moreover, Mukherjee also discussed the telecom and the ISP sector. He said that although the telecom and ISP sector is struggling currently and is trapped in difficult situations, things are not over for them yet. Hopefully, the new telecom policy, which is expected to execute by July-end will help in providing the much-needed stability the telecom sector needs. Though, the telecom sector witnessed a considerable 16% YoY growth in its online recruitment activity, sharply decreased from 21% in May 2018 to 17% in June 2018. The telecom sector has exhibited a sharp 3% M-o-M fall in e-recruitment activity. However, the industry is also showing some positive sign as Reliance Jio plans to recruit 75,000-80,000 people during the current fiscal year.
In the other fields, there has been a significant rise in demand for healthcare professionals, which has exceeded the corresponding period a year-ago by an impressive 24%. This has been the highest recorded increase amongst all monitored job positions. Finance and Accounts emerge as the second most demanded job, which has registered a year-on-year growth of 21%, according to the data mentioned in the report.
Besides, the Media and Entertainment sector witnessed a sharp increase of 26% YoY in their recruitment process. While the Education and Retail industries registered a 17% YoY rise, respectively, and were also among the most active sectors notwithstanding moderation in pace.
The report also depicts the City-wise data, which highlights an increased online recruitment demand in all the major cities of India. Jaipur, which registered a rise of 10%, led all monitored cities, which was followed by Chandigarh that exhibited a 9% and Coimbatore, that stood at 8% increase. If we talk about the decrease, online hiring dropped the most in Baroda, by almost 15%, followed by Kochi (6%), Bangalore (5%), Delhi(4%) and then Hyderabad (3%).