large scale image
LCP Image

Back to TSCFM News

Indian job market shows the highest growth of 6% y-o-y

April 19, 2022

Indian job market shows the highest growth of 6% y-o-y
With economic activity showing impressive recuperation from COVID’s grip, hiring demand witnessed 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 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 recruitment 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 slide down in March 2022 every year, according to MEI data.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp