Hiring demand down 3% sequentially in October: Monster Employment

Hiring demand down 3% sequentially in October: Monster Employment

According to a report, October saw a 3% decline in hiring demand sequentially due to a decline in hiring of professionals in procurement, logistics and supply chain following the festive hiring hike in September. Data from the Monster Employment Index indicates that the hiring demand declined by 3% in October compared to September 2021.
However, there has been a strong year-on-year recovery in October, up 9% compared to the same month in 2020.

“In October, we saw a 3% month-on-month decline in hiring activity. This is an annual trend we see following the festive hiring hike.

Shekhar said, “It is encouraging to see the travel and tourism industry being dusted off the impact of the pandemic and indeed paving the way for a revival. We also see back-to-office trends coupled with increased automation and a massive increase in demand for office supplies. Shekhar Garissa, CEO of Monster.com, a company.
Moreover, the recruitment space is looking for entry-level talent as more and more organizations are looking to hire freshers, he said.

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

The index further showed that as more and more organizations resume work in physical offices and increase automation efforts, the office equipment or automation (30%) industry had the highest month-on-month increase in job postings. Growth was seen, followed by the revived travel and tourism (7%) and telecommunications or ISP (5%) industries.

Industries such as banking, financial services, insurance (4%), IT-hardware and software (3%), advertising, market research, public relations (2%), education (2%) and retail (1%) also performed well. did. Positive monthly growth according to the index.

Most industries continue to receive hiring numbers. Shipping and Marine (-11%), Health Care, Biotechnology and Life Sciences, Pharmaceuticals (-3%), Production and Manufacturing (-1%), Media and Entertainment (-1%) and BPO or ITeS (- 1% ) saw a month-on-month decline in job postings in October.

It said that with the continued revival of the travel and tourism industry in October, the recruitment of professionals in hospitality and travel (5%) saw the highest month-on-month growth in October 2021. This is followed by professions such as senior management. 4%), HR & admin (3%), arts/creative (2%), finance & accounts (1%) and customer service (1%).

Software, hardware telecommunications, engineering/production, and marketing and communications saw slow growth in October. Monthly declines were seen in job posting activity in procurement, logistics, supply chain (-5%), legal (-4%), sales and business development (-3%) and health care (-2%).

According to the index data, Kolkata witnessed high demand for marketing and communication professionals with a growth of 13% every month.

In October, trends indicated that tier-II cities such as Coimbatore (3%) and Jaipur (1%) saw the highest monthly growth in job postings.

Hyderabad, Kochi, Mumbai and Delhi-NCR, which had earlier seen a decline in hiring activity, have stabilized in the month.

However, despite the festive hiring demand, cities such as Kolkata (-5%), Bengaluru (-2%), Pune (-2%), Chandigarh (-1%), Ahmedabad (-1%) and Chennai (-1%) cities) saw a monthly decline in job posting activity.



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