The recent Monster Employment Index (MEI) India registers 52 per cent growth from the last year. 2016 has started off on an optimistic note with notable growth in the key sectors. Apart from the traditional sectors like IT and Banking, Financial services and Insurance (BFSI), there has been a steady growth in the non-conventional sectors such as media and entertainment.
Sanjay Modi, MD, Monster.com (India, Middle East, South East Asia and Hong Kong), said: “The year 2016 is expected to bring in further revival in the job market, with the much needed reforms of digitisation and making India the manufacturing hub. Also, the Start-up India, Stand-up India initiative is likely to encourage a more dynamic approach among entrepreneurs that will also lead to job creation. With the Union Budget nearing, we look forward to a more conducive policy framework to revive investment, increase growth with a pragmatic recognition of the macro-economic woes and a thrust towards structural reforms.”
Industry Year-over-year Trends
· IT including hardware, software (up 77 per cent) charts the steepest annual growth among industry sectors.
· Media and entertainment (up 55 per cent) climbed up the ladder to occupy the second rank in the long-term growth chart followed by education (up 53 per cent) and Healthcare (up 48 per cent). Education sector also exhibited the highest year-on-year growth rate in the series this month and the second highest month-on-month (up 12 per cent) growth rate among industry sectors.
· Manufacturing and commerce sector is going strong vis-à-vis the corresponding period a year ago. Online hiring in production and manufacturing continued to trend upward at an eased up pace; down from 59 per cent in December 2015 to 42 per cent in January 2016. The year-on growth momentum in logistic, courier/freight/transportation (up 24 per cent), improved from six per cent in December last year. Automotive/ancillaries/tyres (up 13 per cent) sector also recorded a marginal two point improvement in the pace growth between December and January.
· Oil/gas/petroleum, power recorded a six per cent growth in e-recruitment following three successive year-on-year declines while online hiring activity in Government/PSU/Defence matched the year-ago level.
· Shipping/Marine (down five per cent) is the only sector to have recorded a negative annual growth rate this month.
· E-commerce sector registered the second positive growth on the month; up by two per cent. The six-month growth rate at 23 per cent is the same as that registered in December 2015.