Monster Employment Index India registered 13 percent y-o-y growth for December’17
Home Appliances (up 68 percent) continue to lead the y-o-y growth, followed by BFSI (up 38 percent). Automotive/ Ancillaries/Tyres (up 35 percent) registered the steepest m-o-m growth in e-recruitment activity. Kolkata (up 50 percent) and Baroda (up 36 percent) lead all monitored cities!
Online recruitment activities in the month of December 2017 registered 13 percent year-on-year growth, according to the Monster Employment Index, with a 2 percent decline in month-on-month e-recruitment activity.
Among job intensive sectors, Home Appliances continued to lead the long-term growth chart with 68 percent y-o-y; down four points from 72 percent y-o-y growth in November, but still emerging as the top hiring sector y-o-y. This was followed by e-recruitment activity in Banking/ Financial Services, Insurance which registered 38 percent y-o-y growth in December 2017. Online demand inAutomotive/ Ancillaries/Tyres (up 35 percent) sustained a progressive y-o-y growth. The sector also registered the steepest growth in e-recruitment activity for the month among all monitored industry sectors.
City-wise data shows, Kolkata (up 50 percent) recorded the most notable annual growth rate among all monitored cities, followed by Baroda (up 36 percent) and Jaipur (up 32 percent). Amongst metros, Delhi NCR (up 4 percent) witnessed the slowest growth in e-recruitment activity.
Demand in Hospitality & Travel saw the most notable slowdown from 32 percent in November 2017 to 17 percent in December 2017.
Commenting on the trends, Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East said, “Monster Employment Index is exhibiting a relative slowdown in the pace of hiring activity in December 2017. It is interesting to note that Automotive/ Ancillaries/Tyres registered the steepest growth in recruitment activity and Home Appliances led the pack as the top hiring sector y-o-y. Kolkata emerged as the front-runner with a notable 50 percent increase in annual growth rate in e-recruitment activity.”
“India’s hiring outlook in 2017 was dampened due to introduction of radical reforms such as demonetization, implementation of GST and a new bankruptcy regime. Our estimate is that these reforms would help Indian economy in mid to long term with creation of more jobs. The bearish response towards recruitment activities also reiterates the growing need for up-skilling in the country. The biggest expectation out of the Union Budget 2018-19 would be a higher focus on job creation in key labour intensive industry sectors like manufacturing & infrastructure. We are quite optimistic that job scenario will improve in 2018.’’ he added.
Occupation Year-over-year Trends: Online recruitment activity surpassed the year-ago level in all 13 occupation groups monitored by the Index but at a relatively eased up pace. .
· Finance & Account (up 29 percent); Sales & Business Development (up 26 percent) were among the most demanded job roles, year-on-year. The growth momentum, nevertheless, slowed for both vis-à-vis November 2017. While Sales & Business Development exhibited positive trend on all other growth parameters Finance & Account saw one percent decline on the month. There continues to be high demand at the Senior Management level as well; up 35 percent.
· Software, Hardware, Telecom (up nine percent) registered a single-digit annual growth for the first time since January 2015. The job role saw no increase in demand on a month-on-month basis. The three-month and six-month growth trend, however, continued to be positive.
· Among job roles, Engineering /Production (up 19 percent) and Hospitality & Travel (up 17 percent) saw the most notable slowdown in year-on-year demand; down 15 points between November and December 2017. Hospitality & Travel professionals also witnessed the steepest decline in demand on a month-on-month basis; down four percent.
· Year-on-year, demand was lowest for Customer Service (up five percent) professionals. Demand on the month eased by three percent.
Industry Year-over-year Trends: Online demand surpassed the year-ago level in 19 of the 27 industry sectors monitored by the Index.
· Home Appliance (up 68 percent) continued to lead the year-on-year growth chart but at an eased-up pace of growth; down four points from 72 percent growth in November. Nevertheless, the short-term growth parameters continued to exhibit an upward growth trend; five percent (month-on-month), 10 percent (three-month) and 29 percent (six-month)
· Banking/ Financial Services, Insurance (up 38 percent) was next in the rung. Year-on-year, demand slowed in BFSI sector as well; down 18 points from November 2017. Month-on-month demand increased by three percent and matched the three-month ago level.
· Automotive/ Ancillaries/Tyres (up 35 percent) sustained a progressive growth path, year-on-year. The sector also registered the steepest growth in e-recruitment activity on the month among all monitored industry sectors; up eight percent. Among others, year-on-year growth momentum improved in Education sector; up from 26 percent in November to 29 percent in December.
· Online hiring activity recoiled in manufacturing and commerce following significant growth in the past month. Year-on-year, Production and Manufacturing registered 13 percent growth down from a growth of 31 percent in November 2017. Logistic, Courier/ Freight/ Transportation recorded 29 percent growth down from 35 percent in November.
· E-recruitment in Retail (down six percent) eased below the corresponding period an year-ago. The sector registered one percent growth on the month.
· Government/PSU/Defence (down 31 percent) and BPO/ITES (down 22 percent) recorded the steepest annual decline among all monitored industry sectors.
. E-Commerce: Although positive, online demand in E-commerce sector eased further in December. The sector registered four percent year-on-year growth down from six percent in November. Online demand regressed on all other parameters; six-month (down seven percent); three-month (down three percent); and month-on-month (down three percent).