The Monster Employment Index for the month of June recorded a low of 254, down by 3% over the year-ago period. With regard to a month-on-month format, the index fell 8%.
With regard to this mid-year dip in online hiring, here’s what Abhijeet Mukherjee, CEO, Monster.com – APAC & Gulf, had to say, “The slower online hiring growth could be owing to the on-going mergers & acquisition landscape across several sectors where employers are exhibiting caution in their hiring plans.”
These numbers thus bring into perspective how organization-specific changes and deals have a far-reaching effect on the employment front. Moreover, these are cyclical changes and often lead to other clusters of alterations in the industry which themselves lead to further change. Whether there is more this June-specific decline than the volatility across sectors might require deeper analysis, but they would surely affect the staffing process and plans across all major sectors and organizations. It would be interesting to watch when the numbers pick up again and see what specifics lead to the recovery.
In terms of a sector-wise analysis, 13 out of the 27 sectors that are monitored by the MEI showed an increase in online demand. The production and manufacturing sector, for example, recorded an upsurge due to varied conditions that favored demand. While media and entertainment recorded a 26% hike, education and retail both were up by 17%.
Mukherjee further clarified that while the telecom and ISP sector faced the struggles of a volatile landscape, there is hope for some stability post the new telecom policy scheduled around the end of July.
In terms of a city-wise indicator, Jaipur, Chandigarh, and Coimbatore led the list with jumps of 10%, 9%, and 8% respectively, while Baroda recorded the highest decline at 15% from a YoY standpoint and an 11% plunge from a monthly view.
With regard to government jobs as well, there was a downward slide of 20%. Overall online recruitment in June surged down by 3% and 8% in comparison to May 2018
With regard to YoY trends in occupation, online recruitment activity exceeded the year-ago level in nine of the 13 occupation groups that the index looks at. In terms of job-roles, Health Care went up by 24% followed by Finance & Account (up by 21%) and HR & Admin (up by 18%). These were noticeable surges in demand from a YoY outlook though month-on-month, online demand went down for each job role by 4%, 8%, and 2% respectively. While Marketing & Communications saw a dip of 11%, Arts/Creative saw a steep decline of 16% on the year.