May 9, 2022
By: Vaamanaa SethiAs economic activities continue to surge, the job market is witnessing recovery across several sectors that were impacted by the pandemic, showcasing the highest growth in the month of April, reports the Monster Employment Index (MEI).
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BFSI remains the fastest job recovering sector with a 54 percent annual growth rate followed by retail that grew 47 percent annually and then production and manufacturing industry at 35 percent.
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India’s retail sector had shown a remarkable recovery with double-digit growth for the first time since the beginning of the COVID-19 pandemic.
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Reliance Retail, which is the retail arm of Reliance Industries hired over 1.5 lakh people in the fiscal year 2022.
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According to the report, easing of COVID-19 curbs have resulted in consumers frequenting recreational centres such as malls, markets leading to increased demand for retail talent.
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The media and entertainment sector recorded a 17 percent drop in hiring of talents followed by engineering, cement, construction and Iron/steel with 1 percent drop.
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With a growth of 29 percent in hiring, Mumbai tops the list of metro cities in terms of hiring talent, followed by Coimbatore (25 percent), Chennai (21 percent), Bengaluru and Hyderabad (both 20 percent).
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“The emergence of fintech, edtech, and D2C brands have definitely helped stimulate economic recovery at a much faster rate than traditional companies. In the months to come, what will be interesting to see is the emergence of newer job roles that previously didn't exist,” said Sekhar Garisa, CEO at Monster.com.
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...potential as a strong contributor to our GDP. Tech led innovation across sectors will also ensure continued demand for tech roles across sectors as we consumers increasingly embrace a digital-native lifestyle,” he added.
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The Monster Employment Index is a monthly analysis of online job posting activity conducted by Monster India. The period of the study was conducted between April 1 to April 30, 2022.
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