Despite the second wave of the pandemic and subsequent lockdowns, the last six months reflect a 6 percent growth in job postings across various sectors.
Data from Monster Employment Index, a Quess Company, indicates that compared to May 2021, June 2021 witnessed a notable overall monthly growth of 4 percent. Overall job postings have also improved by 7 percent year-on-year (June 2021 v/s June 2020), indicating an optimistic outlook for the coming months. The index for June 2021, provides insights into the job market across industries, cities, and functions.
June 2021 continued to show a favourable outlook for job recovery with the easing of lockdowns across the country, compared to the previous month of May 2021. The Telecom/ ISP industry witnessed a remarkable year-on-year growth (39 percent), alongside IT- Hardware, Software (32 percent), and Logistic, Courier/ Freight/ Transportation (29 percent) industries that followed close behind. Further, the hiring of entry-level job seekers in June 2021 has shown significant growth of 6 percent month-on-month (June 2021 v/s May 2021).
Bangalore, Pune, Hyderabad lead in hiring activities
Hiring activities in metropolitan cities such as Bangalore (50 percent), Pune (28 percent), Hyderabad (22 percent), and Chennai (22 percent) indicate strong growth in recruitment activity as compared to the previous year (June 2021 v/s June 2020), the demand for professionals in Software, Hardware, Telecom functions showed an uptrend of 35 percent year-on-year as of June 2021 compared to June 2020, on account of increasing digitization and e-recruitment activities.
Job postings across all industries indicate positive month-on-month growth With the ease of lockdown restrictions, all 27 industries monitored by the Index witnessed positive month-on-month growth. The industries such as Import/Export (25 percent), Production and Manufacturing (14 percent), Shipping/Marine (11 percent), and Healthcare, Bio Technology & Life Sciences, Pharmaceuticals (10 percent) have shown the highest growth month-on-month (June 2021 v/s May 2021).
Other industries performing well compared to the previous month include banking/ financial services, insurance telecom/ISP, real estate, and media and entertainment. Notably, travel and tourism (3 percent) industries showed a positive uptick compared to previous months, implying an optimistic prospect to recovery. Further, agro-based industries, FMCG, food and packaged food, and printing/packaging industries showed 1 percent growth in hiring (June 2021 v/s May 2021).
Annual decline in sectors severely impacted by pandemic
A year-on-year comparison shows hiring in industries such as telecom/ISP (39 percent), IT- hardware, software (32 percent), and logistic, courier/ freight/ transportation (29 percent) showed notable growth in recruitment activity (June 2021 v/s June 2020). However, industries that were severely impacted by the second wave of the pandemic continue to witness an annual decline in job postings. In this regard, travel and tourism (-42 percent), education (-27 percent) and oil/ Gas/petroleum, power (-18 percent) showed a year-on-year (June 2021 v/s June 2020) dip in job postings.
Metropolitan cities observe robust hiring activities year-on-year as of June 2021 A yearly comparison (June 2021 v/s June 2020) indicates flourishing demand for talent in metropolitan cities such as Bangalore (50 percent), Pune (28 percent), Hyderabad (22 percent), Chennai (22 percent), Mumbai (7 percent), and Delhi (4 percent). Compared to June 2020, hiring across tier-2 cities such as Baroda (-23 percent), Jaipur (-18 percent), Kolkata (-15 percent), Coimbatore (-3 percent), and Kochi (-1 percent) witnessed a dip, except for Chandigarh that observed a surge at 7 percent.
As of June 2021, job postings at Baroda (9 percent), Chandigarh (6 percent), Pune (6 percent), and Coimbatore (6 percent) indicated the highest month-on-month uptick as compared to May 2021. Bangalore (2 percent), Kochi (1 percent), and Hyderabad (1 percent) showed muted growth as of June 2021 (June 2021 v/s May 2021). The overall uptick in job postings shows a positive trend of rampant recovery from the second wave of the pandemic.
Software, hardware, telecom witnesses significant year-on-year increase in hiring motivated by digitisation and emerging technologies
On a year-on-year (June 2021 vs. June 2020) basis, software, hardware, telecom (35 percent), senior management (18 percent), engineering/ production (4 percent), finance and accounts (2 percent), and purchase/ logistics/ supply hain (2 percent) industries saw a rise in hiring activity. Customer service (-33 percent), healthcare (-21 percent), sales and business development (-16 percent), hospitality and travel (-16 percent) and marketing and communications (-3 percent) functions, however, indicated steep yearly declines in hiring.
Functions such as finance and accounts (11 percent), healthcare (10 percent), and HR and administration (8 percent) witnessed a positive uptick in job postings month-on-month (June 2021 v/s May 2021). This growth in hiring can be attributed to financial technology expansions, increasing use of digital payments, expanding vaccination efforts, and the increase in hiring activity for talent acquisition. Other functions that showed an uptick in demand for talent include customer care (6 percent), hospitality (5 percent), marketing (5 percent), and sales and business development (5 percent).
Entry-level job recruitments up
Job postings for entry-level profiles witness highest month-on-month growth in June 2021. Recruitment activity across all job levels witnessed optimistic month-on-month (June 2021 v/s May 2021) growth. It's positive to note that hiring for entry-level jobs (0-3 years) has seen the highest month-on-month growth at 6 percent, as compared to the previous months. Top management professionals (over 16 years), senior professionals (11-15 years), mid-senior professionals (7-10 years), and Intermediate roles (4-6 years) saw an increase of 4 percent, 2 percent, 5 percent, and 5 percent month-on-month respectively.
73% growth in op management professional jobs
Demand for top management level professionals continued to grow significantly, as high as 73 percent year-on-year (June 2021 vs. June 2020). Job postings for Senior level (16 percent), mid-senior level (20 percent), and Intermediate level (16 percent) roles also witnessed considerable growth. However, job roles for entry-level profiles have declined by 8 percent compared to the same time period last year (June 2021 v/s June 2020).
Sekhar Garisa, CEO - Monster.com said, "It is encouraging to see a positive growth in hiring activity across industries in the month of June, as the country begins to recover from the second wave of the pandemic. With vaccination drives underway actively and sectoral revival in progress across industries supported by government schemes, the Indian recruitment space is certainly faring with more stability and grit. Hiring activities in metropolitan cities have also exhibited promising numbers as compared to last year, reinstating that the economy is on the mend,” Garisa said.