financetom
Economy
financetom
/
Economy
/
Hiring activity witnesses 4% sequential growth in July: Report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hiring activity witnesses 4% sequential growth in July: Report
Aug 26, 2021 9:38 AM

Hiring activity witnessed an overall 4 percent sequential growth in July and the uptick was mainly spread across metros, according to a report. Compared to June, July 2021 saw a notable overall monthly growth of 4 percent in hiring across all metros, as per Monster Employment Index by Monster.com.

Share Market Live

NSE

Overall job postings have also improved by 8 percent year-on-year in July, indicating a continued optimistic outlook for the coming months, it added.

Monster Employment Index is a comprehensive analysis of online job posting activity conducted by Monster India. The report further revealed that job postings witnessed a positive uptick in industries that were previously in a slump due to the pandemic like travel and tourism, office equipment and automation, and real estate sectors.

Job postings in travel and tourism saw a steep month-on-month rise at 16 percent, a welcome relief to the industry that has been facing challenges since the onset of COVID-19, it noted. Other industries such as shipping/marine (14 percent), office equipment/automation (9 percent) and real estate (9 percent) have also witnessed a month-on-month growth in postings in July 2021.

Also Read: Flipkart to create 4,000 jobs by opening 4 new facilities in Maharashtra

However, industries such as the government/PSU/ defence (1 percent) and media and entertainment (3 percent) witnessed a decline in hiring activity, it added. Meanwhile, sequential job postings grew in Delhi-NCR by 8 percent, Pune (7 percent), Hyderabad (7 percent), Chennai (6 percent) and Bengaluru (6 percent) in July. Monthly hiring activity was low or muted in certain locations like Ahmedabad (2 percent), and Baroda (1 percent), while Jaipur remained stable.

Recruitment activity across all job levels witnessed optimistic or neutral month-on-month growth, the report said, adding hiring for entry-level jobs (0-3 years) saw a growth of 5 percent. Hiring in intermediate roles (4-6 years), mid-senior professionals (7-10 years) and senior professionals (11-15 years) increased 7 percent, 7 percent and 4 percent, respectively. The hiring of top management professionals (over 16 years) witnessed muted monthly growth, the report said.

Also Read: US jobless claims down 14,000 to 385,000 as economy rebounds

Despite the challenges of Covid-19 and its impact on the hiring landscape, we have seen positive growth in job postings across most cities. Jobs in certain sectors such as tech and IT are booming, as companies come forward to boost their tech enablement and improve workforce efficiency.

While some industries are doing better than others, we can be confident of seeing improvement in the coming months, given the active vaccination drives currently underway, Monster.com CEO Sekhar Garisa said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Britain to proceed with revaluation of commercial real estate in 2023, says Jeremy Hunt
Britain to proceed with revaluation of commercial real estate in 2023, says Jeremy Hunt
Nov 17, 2022
"Nearly two thirds of properties will not pay a penny more next year and thousands of pubs, restaurants and small high street shops will benefit," he said. Hunt added that a new government funded Transitional Relief scheme would benefit around 700,000 businesses.
UK economy set to shrink next year, says Jeremy Hunt in budget speech
UK economy set to shrink next year, says Jeremy Hunt in budget speech
Nov 17, 2022
The new forecast is for gross domestic product to contract by 1.4 percent next year compared with a projection for growth of 1.8 percent in the previous outlook published in March by the Office for Budget Responsibility (OBR).
UK economy: A crisis in the making for some time, with India trade deal offering hope
UK economy: A crisis in the making for some time, with India trade deal offering hope
Nov 13, 2022
The British-Asian former finance minister, who took charge at 10 Downing Street last month with the promise to fix the fiscal errors of predecessor Liz Truss’ disastrous mini-budget, has pledged to get a grip on the soaring inflation as a priority and warned of tough tax and spending decisions ahead.
Nirmala Sitharaman meets Janet Yellen, says will increase cooperation with US to address economic challenges
Nirmala Sitharaman meets Janet Yellen, says will increase cooperation with US to address economic challenges
Nov 11, 2022
Finance MInister Nirmala Sitharaman said the India-USA economic and financial partnership meeting in New Delhi today will lend greater vigour to both countries' economic relationship, strengthen their business-to-business links as well as facilitate a coordinated policy stance to address global economic challenges. 
Copyright 2023-2026 - www.financetom.com All Rights Reserved