Amidst the sharp decline in India's economy in the first quarter of 2017, there is visible stress on the job market, but contrary to that online job portal Monster.com paints a rosy picture of 14 percent year-on-year growth in job creation in India. In a newly released Monster Employment Index, company claimed that online recruitment activities in the month of August 2017 registered 14 percent year-on-year growth.
The company which is facing case of alleged selling of user's data to a third party, attributed the upcoming festive season to be the prime reason of this growth in previous month. “Home Appliances lead the top growth sectors with a 54 percent year-on-year growth in August 2017,” said company, adding that online hiring in Banking/Financial Services, Insurance decline from 43 percent in July 2017 to 35 percent in August 2017.
“The jobs scenario in the country has subtly improved with a 14 percent y-o-y growth according the Monster Employment Index for August 2017. While sectors such as Home Appliances, BFSI, FMCG continue to exhibit growth, other sectors such as Real Estate, Retail, BPO/ IT, Production and Manufacturing await revival. The overall market however, continues to be dynamic owing to various socio-economic factors and technological revolution,” stated Sanjay Modi, Managing Director, Monster.com, APAC & Middle-East.
Surprisingly, the company's city-wise data shows that most of the opportunity is being created in Kolkata (up 46 percent), followed by Baroda (up 25 percent) and Ahmadabad (up 18 percent). Tier I cities like Mumbai, Hyderabad Delhi, Bangalore did not witness sharp growth or decline, said company. Delhi's growth is down to -1 percent.
On what type of jobs are in demand, company stated, year-on-year, Sales & Business Development professionals saw increase in demand up from 29 percent in July 2017 to 35 percent in August 2017. On the other hand, Software, Hardware, Telecom witness 28 percent growth and with 20 percent growth Finance & Accounts were next in the rung as the most sought after job role.