Hiring demand improves in May sequentially by 1 pc: Report
Hiring demand grew sequentially in May witnessed a growth of 1 per cent compared to the previous month driven by opportunities sectors including in retail, home appliances and telecom despite the second wave and lockdowns, according to a report.
While April 2021, witnessed a dip in job postings given the onset of the second wave of the pandemic, May showed green shoots of recovery, according to the Monster Employment Index.
Compared to April 2021, May showed a growth of 1 per cent, whereas May 2021 grew 4 per cent as compared to May 2020, it added.
The Monster Employment Index is a broad and comprehensive month-on-month analysis of online job posting activity conducted by Monster India.
''It is promising to see an improvement in hiring despite the impact of the second wave of the pandemic.
Some industries have significant tailwinds due to the new normal and are flourishing in the new, dynamic environment, he noted.
''With the government and organisations across the board working on an aggressive vaccination programme, we are hopeful for quicker restoration of normalcy and accelerated hiring scenario,'' he added.
The report further revealed that five per cent of the industries indicate positive month-on-month growth in job postings, with retail (24 per cent), home appliances (13 per cent) and telecom/ISP (10 per cent) industries showing the highest growth.
Other industries that are doing well compared to the previous month include IT — hardware, software, banking/financial services, insurance, office equipment/automation and healthcare, biotechnology, life sciences and pharmaceuticals, it stated.
Indicating a downward trend, travel and tourism with a dip of 13 per cent, import/ export with 11 per cent and printing/ packaging 8 per cent continue to face the challenges of the pandemic with a decline in job postings, it added.
It is promising for cities such as Kolkata that have seen multiple dips in hiring as per previous Monster Employment Index reports.
Meanwhile, a year-on-year comparison showed hiring in 56 per cent of the industries fared better as compared to the same time last year.
It indicates that companies and employers are now better equipped to face the pandemic, despite the effect of the second wave, it added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)