Hiring Slowed Down In August: Monster Reports
Monster.com noted in their recent report that the scale of recruitment went a little lower during the month of August because the Indian companies are conscious while hiring the workforce due to the fear of recession. In the festive period when companies are expected to hire on a huge scale as their demand for goods and service is induced, The Monster Employment Index (MEI) records a 2 to 3 percent decrease in the graph of recruitment by the companies.However this trend is not same in every industry, the Agriculture industry along with other industries shows the positive signs. Apart from agro industries, telecom, real estate, telecom, and trale industries also visualise growth in the e-recruitment activity.
Shekhar Garisa, CEO Monster.com "While hiring has slowed down this August due to global economic concerns, we are optimistic that jobs will bounce back in India over the coming quarter with the ongoing festive season," . The agro industry saw 6 percent of growth along with an increase of 20 percent in BFSI industries, 9 percent increase in real estate, 9 percent increase in telecom/ISP, etc. The factors that influence the growth of the agriculture industry are the automation, blockchain, and drone technology. While on the other hand industries like entertainment saw the decline of 19 percent, shipping/marine 24 percent. Apart from these, sectors like ed-tech, garment and textiles, production and manufacturing see visible decline in their hiring rate.
"Retail continues to do well with improved e-commerce sales and rising footfall across stores. Moreover, India continues on its tech adaptive journey with newer technologies and consequently newer skills in demand by recruiters," said Garisa.
