Hirings Down: India Reports 6% Drop In Job Postings YoY In October – The Times of Bengal




New Delhi: According to a latest report by the Monster Employment Index, India saw a 6 per cent drop in hiring activity (year-on-year) in October, amid changing patterns in the start-up ecosystem, funding winter, and fears of an upcoming recession. The report also cited a 5 per cent fall in month-on-month job postings in the country.
However, the report also says that, in those companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors, the hiring projections for the coming months are expected to pick up.
Much like before most countries, the ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring.
It should be noted that despite the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech. Likewise, industries such as banking and finance and telecom did well, with technology driving innovation and growth in both sectors.
Artificial intelligence and Blockchain are transforming the BFSI sector, while the onset of 5G is transforming the growth of telecom.
“While macroeconomic conditions have pushed companies to adopt a watchful approach to hiring, the need for skilled talent is unlikely to ever go away. Hence, it is important that today’s workforce upskill and reskill themselves on an individual and organisational level,” said Sekhar Garisa, CEO, Monster.com, a Quess company.
When it comes to tier 1 cities, hiring remained stable in Mumbai whereas metros such as Bangalore, Kolkata, Delhi-NCR and Hyderabad posted a downward trend in recruitment activities. In tier 2 cities such as Coimbatore and Ahmedabad, a marginal incline in job activity is witnessed on an annual basis whereas demand fell in major metropolitan cities of India. Industries such as BPO/ITES and Media and  Entertainment continued to demonstrate a declining hiring trend from the year-ago level.
(With agency inputs)







Published Date: November 8, 2022 4:44 PM IST



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New Delhi: According to a latest report by the Monster Employment Index, India saw a 6 per cent drop in hiring activity (year-on-year) in October, amid changing patterns in the start-up ecosystem, funding winter, and fears of an upcoming recession. The report also cited a 5 per cent fall in month-on-month job postings in the country.
However, the report also says that, in those companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors, the hiring projections for the coming months are expected to pick up.
Much like before most countries, the ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring.
It should be noted that despite the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech. Likewise, industries such as banking and finance and telecom did well, with technology driving innovation and growth in both sectors.
Artificial intelligence and Blockchain are transforming the BFSI sector, while the onset of 5G is transforming the growth of telecom.
“While macroeconomic conditions have pushed companies to adopt a watchful approach to hiring, the need for skilled talent is unlikely to ever go away. Hence, it is important that today’s workforce upskill and reskill themselves on an individual and organisational level,” said Sekhar Garisa, CEO, Monster.com, a Quess company.
When it comes to tier 1 cities, hiring remained stable in Mumbai whereas metros such as Bangalore, Kolkata, Delhi-NCR and Hyderabad posted a downward trend in recruitment activities. In tier 2 cities such as Coimbatore and Ahmedabad, a marginal incline in job activity is witnessed on an annual basis whereas demand fell in major metropolitan cities of India. Industries such as BPO/ITES and Media and  Entertainment continued to demonstrate a declining hiring trend from the year-ago level.
(With agency inputs)







Published Date: November 8, 2022 4:44 PM IST



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