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The Indian job market showed three per cent recruitment growth across industry segments, registering the maximum growth hiring of 15 per cent for the top management segment in June, according to the Monster Employment Index (MEI).
The demand for top management with over 15 years of experience showed the maximum growth in hiring at 15 per cent on a year-on-year basis and three per cent every quarter.
“While concerns over startup layoffs continue to linger, it is important to note that they represent a very small portion of the overall job pie and several industries today have outperformed their targets to contribute to the larger growth story of our nation,” said Sekhar Garisa, CEO - Monster.com, a Quess company.
On a sectoral basis, Banking, financial services, and insurance (BFSI) saw the maximum demand for professionals with a 28 per cent rise in job postings as compared to the previous year. Indian Chemical industry, the Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides went up by 24 per cent.
Downward trend in hiring
Hiring in the IT- Hardware and Software went down by two per cent due to the layoffs in the startup industry. Other industries, including Media and Entertainment went down by 26 per cent and Engineering, Cement, Construction, and Iron/Steel – by 20 per cent. The segment which has not inched pre-pandemic hiring levels is followed by Shipping/Marine – 10 per cent, Healthcare, Biotechnology & Life Sciences, Pharmaceuticals – four per cent, and Education – four per cent.
Across cities, metros continued to top the charts indicating post-pandemic job recovery. Out of the 13 cities monitored by the Index, 10 showed positive job demand June 2022, with Mumbai registering the highest – 23 per cent.
The Monster Employment Index is a broad monthly analysis of online job posting activity conducted by Monster India. It is based on a real-time review of millions of employer job opportunities from a large, representative selection of online career outlets; the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.
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