GG News Bureau
New Delhi, 20th April. With economic activity showing impressive recovery from COVID-19’s grip, hiring demand showed a 6% year-on-year growth in the month of March 2022, which highlights the latest Monster Employment Index (MEI).
Indeed, even as a marginal dip of 2.4% was seen in month-on-month (MoM) hiring activity action, owing to appraisal season, the Index remained positive according to a yearly perspective as recruitment activity went on across a wide range of sectors.
In the month of March 2022, online hiring activity surpassed the year-prior level in 11 out of the 13 cities monitored by the index. All metros registered a double-digit growth on a yearly basis.
Mumbai (up 21%) led all the monitored cities for the first time on a yearly basis.
Hiring demand in March 2022 was driven by banking/financial services and insurance (BFSI) which showed remarkable improvement (up 37%) followed by telecom/ISP (up 17%) and production and manufacturing (up 16%). Additionally, jobs rebounded back for hospitality and travel (up 11%) personnel after a long time and experienced significantly improved demand levels annually.
However, engineering, cement, construction, and iron/steel (down 20%) continued to witness a year-on-year decrease in the series since April 2020, registering the sharpest deceleration among the sectors. The speed of the growth moderated further for media and entertainment (down 16%) and FMCG, food, and packaged food (down 13%) industry and slid down in March 2022 every year, according to MEI data. agencies
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