Hiring demand across industries witnessed a 9% jump year-on-year in the month of November 2021 aided by a surge in the economic activities post the second wave of Covid-19.
According to Monster Employment Index, the most reliable and comprehensive job analysis report by Monster.com, a Quess Company, an 8% successive incline was noted in hiring demand in the last six months. However, job posting activity remained neutral in November this year compared to October.
In November 2021, the Office Equipment/Automation industry continued to show sustained momentum due to increased investments in automation and reopening of physical offices, demonstrating a 21% incline in job posting activity. The Production and Manufacturing industry also noted 19% growth in the city of Kolkata, which saw a revival with a 2% monthly incline. Moreover, Hospitality & Travel (2%) functions witnessed improvement, owing to the increasing travel intent across the country (Nov 2021 vs Oct 2021).
A yearly comparison shows that metro cities consistently top the charts with the highest hiring demand in November 2021, while Tier-2 cities such as Coimbatore (13%), Kolkata (10%), and Baroda (4%) reflected positive sentiments. The demand for freshers/entry-level professionals witnessed a considerable yearly uptick – the highest yet – with a growth of 6% (Nov 2021 vs Nov 2020).
Job postings due to back-to-office trends in Nov 2021 as compared to remote working in Nov 2020 have shown an uptrend
With back-to-office trends in full swing, the Office Equipment/Automation (21%) industry continued to witnessed the highest month-on-month growth in job postings owing to increased investment in office automation due to the reopening of workplaces, followed by Telecom/ISP (14%), Printing/Packaging (7%), Garments/ Textiles/ Leather, Gems & Jewellery (4%), Oil/ Gas/ Petroleum, Power (3%), and Travel and Tourism (3%) industries. Industries such as Retail, Banking/ Financial Services, Insurance, Education, Logistic, Courier/ Freight/ Transportation stabilized in the month of November 2021 with muted growth. On the other hand, Shipping/Marine (-9%), IT-Hardware, Software (-3%), FMCG, Food & Packaged Food (-2%), and Healthcare, Bio Technology & Life Sciences, Pharmaceuticals (-2%) industries accounted for a slight monthly decline in hiring intent (Nov 2021 vs Oct 2021).
On a year-on-year basis, online hiring demand grew in 20 of the 27 Industries monitored by the Index. Office Equipment/Automation (69%) noted a significant rise in e-recruitment activity due to the shift to physical offices in contrast to lockdown-induced remote working last year, followed by Telecom/ISP (52%), Printing/ Packaging (40%), Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides (24%), BFSI (24%), and IT-Hardware, Software (22%) industries. However, Retail (-19%) indicated a steep decline in job posting activity as the segment continues to reopen and recover to normalcy, as did Government/PSU/Defence (-8%), Engineering, Cement, Construction, Iron/ Steel (-7%), Education (-6%), and Media & Entertainment (-5%). The Travel and Tourism (-1%) industry witnessed only a slight decline in hiring activity as the intent to travel continues to grow at a steady pace, in contrast to previous months which indicated a steep decline (Nov 2021 vs Nov 2020).
