Online recruitment activity registered 15 percent jump in September led by BFSI sector, and the month saw tier II markets outperforming metros in terms of hiring activity, says a report. The Monster Employment Index for September stood at 282, a 15 percent jump from the year-ago period, but a mere 1 percent rise from August when it was at 279. "Much ahead of the festive season, the overall sentiment of the Indian job market looks optimistic, after facing a slump in the past few months across industry sectors," Monster.com APAC & Middle-East Managing Director Sanjay Modi said.
The index showed that the long-term growth momentum in BFSI sector paced up from 35 percent in August to 45 percent in September 2017. Of the 27 industry sectors monitored by the index, 22 saw increased demand year-on-year. Home Appliance led all the monitored sectors, charting a 58 percent growth, thanks to the upcoming festive season. Moreover, the festive month has given a boost to e-commerce sector as online recruitment activity saw a growth of four percent year-on-year.
The report further said online demand exceeded the year-ago level in all 13 occupation groups monitored by the index. In terms of cities, e-recruitment activity exceeded the year-ago level in eight of the 13 cities monitored by the index. Tier II cities witnessed enhanced growth with Baroda (up 23 percent), Coimbatore (up 20 percent) and Ahmedabad (up 14 percent) while all five tier-1 cities witnessed a slowdown in the online hiring on a year-on-year basis. "The job market has undergone an overhaul owing to technological advancements and the dynamic economic scenario. The country's GDP growth declined 2 percent to 5.7 percent in the June quarter of 2017 compared to 7.9 percent in the corresponding quarter of the previous year," Modi said adding "efforts should be made to improve this to spur further job creation."
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