Job postings fell on a yearly basis in September, but saw a slight increase from August this year, according to a report on Tuesday.
There was a drop in job openings in various sectors, including media and entertainment, appliances, shipping and shipping, IT and BPO/ITES compared to September 2021.
For September 2022, the Monster Employment Index (MEI) showed there was a 4% drop in hiring activity on a yearly basis, but a 1% increase on a monthly basis.
However, with the festive season underway and digitalization continuing across industries, recruiting activity is expected to increase significantly in the coming months, he added.
According to the report, hiring in sectors such as media and entertainment (down 19%) saw a sharp drop due to guarded business spending, as did home appliances (down 19%) in due to declining consumer demand and rising commodity prices. .
The shipping and shipping industry also saw an 18% decline.
Indian IT (down 11%) remains cautious with onboarding business as employers face rising attrition and shifting workplace sentiment, and BPO/ITES (down 7%) reflect similar trends, according to the report.
The Monster Jobs Index provides a monthly analysis of online job posting activity on the Monster India portal.
At the same time, the report indicates that the deployment of 5G services has led to an encouraging trend in employment in the telecommunications sector (up 13%) as key players launch their digital services in different cities, expand the capacities of their data centers and recruit for specialized positions.
Hiring for this year’s holiday season was comparatively better than previous years, the report said, adding that the trend is reflected in customer buying behavior across the world, leading to a substantial resurgence of 28%. recruitment in the import/export sector. .
Banking, Financial Services and Insurance (BFSI) saw a steady increase with hiring growth of 20%, particularly in metropolitan cities, while travel and tourism hiring increased by 9%, a he added.
“With the launch of 5G by the government, labor market projections look optimistic, especially for telecommunications as we pave the way for digital India. The way forward paints a picture of job roles focused on technology, therefore, skills are of paramount importance for an employable India,” said Monster.Com CEO Sekhar Garisa.