Online recruitment activity in India grows by 19%, IT registers 51 per cent Y-o-Y growth: Monster Employment Index

The latest Monster Employment Index shows online recruitment activities in the month of July registered a y-oy growth of 19 percent.

The IT sector which was facing the brunt of extensive job cuts is charting a positive trend this month, witnessing a y-o-y growth of 51 percent. Additionally, with the constant impetus of the government on the education sector since the beginning of the year, the industry is witnessing its hay days. The education sector is exhibiting a steep upward trend with a y-o-y growth of 74 per cent, surpassing all the other sectors.
At the occupational level, online demand for healthcare professionals has shown a steep rise of 46 percent closely followed by demand for customer service experts (41 percent). It is, however, surprising to see a decline if demand for senior management. From a 50 percent y-o-y growth last month, the online demand for senior management is declined to a 38 percent in July.

Sanjay Modi, Managing Director at Monster.com for the APAC & Middle-East region said, “Commenting on the latest trends, Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East said, “The month of July started on a positive note with the Monster Employment Index (MEI) registering a 2 points jump from the previous month. Online recruitment activities have started showing an upward trend, overall the pace has been significantly moderated this year. The IT sector has made a notable comeback with the online recruitment activities going up by 51 percent since last month. A latest report by NASSCOM quoted a decline in IT jobs due to automation, MEI figures clearly show that the sector is slowly reviving from the long term deceleration."

"The sector today is increasingly moving towards demand for people with specialized skill set, owing to extensive digitization of manual processes. Apart from IT, the frontrunner has been the education sector, charting a constant double digit growth figure. The sector is performing exceptionally well owing to a slew of government initiatives in the beginning of the year,” he added.

He further said, “There has been a significant decline in the demand for senior management since the last month. This can be further attributed to stringent cost cutting across various industries, owing to which companies are investing increasingly on low cost bearing employees at the lower level as opposed to high salaried senior level employees. Overall, there is an atmosphere of impending optimism in the coming months in the Indian job market.”