With the ongoing recruitment season in colleges and re-entry of the PSUs for direct recruitment from top engineering colleges, online hiring in this sector has witnessed a 9 per cent year-on-year surge in November. The Monster Employment Index stood at 240 in November, registering 9 per cent rise over the corresponding period last year. On a month-on-month basis, the index, however, witnessed a decline of 3.61 per cent.
“The month of November marks the beginning of placement season in many top notch Indian engineering colleges. This is, therefore, reflected in the increased online hiring activities in the PSU sector, which hires top talent of these colleges in significant numbers,” Monster.com Managing Director (APAC & Middle-East) Sanjay Modi said.
The growth in production and manufacturing sector further declined in November owing to the surprise announcement of demonetisation of high currency notes causing notable problems for manufacturers.
Moreover, the IT industry is undergoing a phase of disruption and has witnessed diminishing growth figures for the past couple of months.
READ: PSUs make a comeback to IIT placements after 2 years
Of the 27 industry sectors monitored by the index, 25 sectors witness growth in online hiring activity in November compared to the year-ago period. Education sector (up 58 per cent) led all monitored industry sectors.
In the city-wise data, metros have finally taken a lead with Kolkata showing the steepest growth (up 24 per cent) closely followed by Ahmedabad (up 21 per cent). Among the tier-II towns, Coimbatore (up 17 per cent) and Chandigarh (up 13 per cent) have shown significant growth figures.
“As opposed to last few months where Tier-II markets outperformed the metros; the metros have performed significantly well with Kolkata being in the lead (up 24 per cent), while Delhi and Ahmedabad are up by 18 per cent and 21 per cent respectively,” Modi said.