Jobs Platforms Show Hiring Boom In Most Sectors In March
Hiring activity in banking, financial services and insurance sector rose the most over the year earlier in March.
Hiring dipped over the previous month in March, owing to the appraisal season, but rose annually as recruitment continued across a broad range of sectors.
The demand for talent fell 2.4% over February but rose 6% year-on-year in March 2022, according to a media statement by Monster.com. The Indian job market, it said, beat the pandemic slump after two years.
The American jobs listing platform, whose India business is owned by Quess Corp., said 21 of the 27 industry sectors monitored by the Monster Employment Index saw higher recruitment than a year earlier.
Banking, financial services and insurance saw the most hiring during the reported month. “The sector has been charting progressive increase in demand annually since November 2021.” In BFSI, roles in financial statement, wealth management, investment banking and cybersecurity have seen increased job openings, the statement said.
This was followed by telecom, and production and manufacturing.
In tech jobs, the emergence of Metaverse and its potential applications, according to the statement, has created a lot of career opportunities in new skill areas. “While brands and enterprises continue to value creativity and human-centered design with tech-enabled applications, job roles such as design architects, software designers, system validation engineers, 3D artists, AR/VR maintenance and support, and design/graphics engineer are expected to be in high demand in the coming months.”
At least six sectors witnessed a yearly decline in hiring in March, led by engineering and construction.
City-Wise Trends
Online recruitment activity exceeded the year-ago level in 11 of the 13 cities monitored by the index. All metros registered double-digit annual growth in hiring in March, according to Monster.com.
Mumbai (up 21%) led all the monitored cities for the first time on yearly basis, followed by Coimbatore (up 20%), Chennai and Hyderabad (up 16% each).
E-recruitment in Bengaluru was up 15% but weakened over previous months. That was followed by Kolkata, Delhi-NCR (growth of 13% each) and Pune (up 12%). Chandigarh and Jaipur, however, saw 6% and 9%, respective, decline.
Blue-Collar Roundup
India has seen a sudden boom of jobs in the quarter ended March 31, according to Apna.co, a jobs platform for blue-collar workers that turned unicorn last year.
The platform recorded 42% sequential growth in its employer base. “Due to the second Covid-19 wave, sectors such as healthcare, delivery, e-commerce were booming, while others had a fairly low employment rate,” it said in a report. “Fast forward to the March quarter, sectors like hospitality, beauty and wellness, manufacturing, real estate, and aviation logistics have seen a gradual increase in job openings as the markets have started recovering.”
Beauty and wellness, and hospitality sectors recorded 80% and 30% increase in job openings, respectively.
The trend for work-from-home jobs remained significant in the quarter even as workplaces reopened. Apna noted a 2% increase in people applying for remote jobs.
The jobs platform in its report said increased participation by women in the workforce was witnessed in the quarter as they gave more than 1 crore interviews, a 20% sequential increase. “Apart from the traditional roles, women applied for delivery person, security guards, drivers, chefs/bakers, IT support, civil engineers, fitness instructors, among others.”