The month of May has shown promising growth in spite of the second wave of the pandemic. The growth in May 2021 was one per cent as compared to April 2021 and four per cent as compared to May 2020, as revealed by the Monster Employment Index.
Among the functions, software, hardware, telecom indicate growth across all the key cities, led by Bangalore (79 per cent), Hyderabad (62 per cent), and Chennai (50 per cent). IT – hardware, software hiring witnessed a year-on-year growth of 67 per cent in Bangalore and 49 per cent in Hyderabad.
Industries that indicate the highest year-on-year growth in hiring across the key cities are banking/ financial services, insurance and IT – hardware, software. Overall hiring activity showed a phenomenal uptrend in most of the cities year-on-year.
In terms of hiring professionals for top management level — those with 16 or more years of work experience — there has been a growth of 66 per cent year-on-year (May 2021 vs. May 2020).
A significant 45 per cent of the industries indicate positive month-on-month (May 2021 vs. April 2021) growth in job postings, with retail (24 per cent), home appliances (13 per cent), and telecom/ISP (10 per cent) industries showing the highest growth. Other industries that are doing well compared to the previous month include IT – hardware, software, banking/ financial services, insurance, office equipment/automation, and healthcare, bio technology & life sciences, and pharmaceuticals. A downward trend was witnessed in travel and tourism (-13 per cent), import/ export (-11 per cent), and printing/ packaging (-8 per cent) continue to face the challenges of the pandemic with a decline in job postings.
Hiring in 56 per cent of the industries was far better in May 2021 as compared to May 2020. Looks like companies are in a better position to deal with the pandemic now. Job postings have grown 29 per cent in the IT – hardware, software space, 25 per cent in the logistics, courier/freight/ transportation space and 23 per cent in the telecom/ISP industries.
However, there was a 49 per cent decline in the job postings in the travel and tourism space in May 2021. Other industries that witnessed a decline in May 2021 as compared to May 2020, were education (-31%) and engineering, cement, construction, iron/ steel (-20%) industries also witnessed a decline in hiring activities, year-on-year.