The Indian economy is kicking into the high gear, going by hiring data from Monster India, part of the global recruitment firm Monster Inc.
With a 32 percent YoY growth, the month of June has registered the highest increase in the online recruiting this year, the company said. The index reading was 202.
Launched in May 2010 with data collected since October 2009, the Monster Employment Index is a broad analysis of online job posting activity in India conducted by Monster India.
Banking/Financial Services, Insurance took the lead among industry sectors charting a 72 percent growth on the year. The sector has been registering double-digit annual growth rates since November 2014 besides progressive improvement in the growth momentum. Between December 2014 and June 2015, online recruitment activity in the sector increased 36 percent
Production and Manufacturing registered a 67 percent growth from the year ago. Recruitment activity in the sector edged 13 percent between May and June 2015 following a three percent month-on-month drop in May 2015, Monster said.
Media & Entertainment (up two percent) saw recruitment activity surpass that in the corresponding period a year ago following negative growth since October 2014.
Recruitment levels in Consumer Goods/FMCG, Food & Packaged Food sector matched the year-ago level after having charted negative annual growth rates continuously for the past three months.
IT – Hardware, Software; and BPO/ITES exhibited a 61 percent and 28 percent year-on-year growth respectively. BPO/ITES however saw recruitment activity ease on the month.
Chemicals/Plastic/Rubber, Paints, Fertilizer/Pesticides (down 29 percent) exhibited the steepest year-on-year decline among all industry sectors.
GEOGRAPHY and JOB PROFILE
Tier II cities continues to lead all monitored cities, year-on-year. Kochi (up 47 percent) supplants Baroda (up 37 percent) and charts the steepest annual growth. Coimbatore (up 42 percent) is second in the rung.
The long term growth momentum for Bangalore (up 42 percent) improved further; up by 12 percentage points between May and June 2015. The city registered the steepest growth on an annual basis among major cities followed by Mumbai (up 36 percent); and Hyderabad (up 33 percent).
The year-on-year growth rate in Chandigarh at 22 percent was the lowest among all monitored cities.
Arts/Creative professionals witnesses a 61 percent growth in demand from the year-ago; the steepest growth among occupation groups for the sixth month in a series, Monster said.
Software, Hardware, Telecom (up 52 percent); Sales & Business Development (up 43 percent); and Finance & Accounts (up 41 percent); HR & Admin (up 25 percent) saw significant improvement in the long-term growth momentum vis-à-vis May 2015. Clearly, there is a greater demand for these roles.
Purchase/ Logistics/ Supply Chain personnel saw online demand exceed the year ago level by six percent even in June. However, the group also registered a positive six-month growth rate for the first time this year.
“The Monster Employment Index reveals that the online recruitment in India has certainly grown at an escalating pace,” said Sanjay Modi, Managing Director, for Monster.com for India, Middle-East, South-East Asia and Hong Kong.