Hiring activity in India increased by 53 per cent in November from a year ago, a sign of growing positive business sentiment, according to a survey by job search website Monster.com.
Monster in its employment index reported a 75 per cent growth in retail sector from the previous year; and is closely followed by IT sector which witnessed a growth of 74 per cent, down by 10 percentage points from October (84 per cent).
"However, IT sector has been recording negative three-month growth successively since September 2015, indicative of slowdown in hiring activity in the recent months," says the study.
Employment in BPO and ITES were up by 45 per cent as sector continues to trend upward year-on-year, 35 per cent in September 2015 and 42 per cent in October 2015.
Production and manufacturing were up by 67 per cent and logistic, courier, freight, transportation posted an increase of up 16 per cent. Automotive, ancillaries and tyres are up by 16 per cent for November, 2015.
Banking, financial services, insurance recorded a 58 per cent growth in opportunities from the year ago while the steepest annual decline was registered in the oil, gas, petroleum and power (down 8 per cent) sector.
The e-commerce sector registered a marginal growth this month. The six-month growth rate has also moderated from 36 percent in October 2015 to 31 percent in November 2015.
"This is a reflection of increased positive business sentiment and faith on business potential from mid- to long-term perspective," said Sanjay Modi, managing director of Monster.com (India, Middle East, South East Asia and Hong Kong). "Emerging sectors such as ecommerce (along with retail) have dominated the market with the right kind of enthusiasm."
The healthcare segment saw a 72 per cent growth in demand for professionals year-on-year-the steepest among all job roles.
According to Monster.com, the annual growth momentum slowed the most in Delhi-NCR (up 24 per cent) and the least in Hyderabad (up 52 per cent) between October and November 2015. Delhi-NCR also registered the most restrained year-on-year growth among all monitored cities.
BW Reporters
The author is Senior Correspondent with BW Businessworld
