Delhi, 9 November 2021: Monster Employment Index, the most reliable and comprehensive job analysis report by Monster.com, a Quess Company, has published its findings for October 2021, providing insights into the job market across industries, cities, functions, and levels. Data from the Index indicates that hiring demand witnessed a dip of 3% in October 2021, as compared to September 2021. However, job demand has witnessed a sequential incline of 9% in the last six months showing an optimistic outlook to recovery. There has also been a strong year-on-year
recovery with a 9% uptick in October 2021 (Oct 2021 vs Oct 2020).
October 2021 saw industries such as Office Equipment/Automation (30%) show remarkable improvement on account of back-to-office trends. Travel and Tourism (7%) also witnessed considerable monthly growth with a major uptick in cities such as Chandigarh, Jaipur, and Kochi. Further, hiring for professionals in Hospitality and Travel roles saw the highest month-on-month growth, indicating an overall promising recovery for the Travel sector in the months to come (Oct 2021 vs Sept 2021). There has also been an improvement in industries such as Education and Retail,
as compared to the previous months.
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As compared to October 2020, the Banking/Financial Services, Insurance (46%) and IT- Hardware, Software (37%) industries led in e-recruitment activity, marking the highest growth in metro cities which continue to dominate year-on-year hiring trends. The demand for entry-level professionals notably witnessed a yearly incline of 3% (Oct 2021 vs Oct 2020).
Office Equipment/Automation industry-led e-recruitment activity in October 2021 with 30% month-on-month growth owing to return-to-office trends With more and more organizations resuming work in physical offices and increasing automation efforts, the Office Equipment/Automation (30%) industry witnessed the highest month-on-month rise in job postings, followed by the reviving Travel and Tourism (7%) and Telecom/ISP (5%) industries. Industries such as Banking/Financial Services, Insurance (4%), IT – Hardware, Software (3%), Advertising, Market Research, Public Relations (PR) (2%), Education (2%), and Retail (1%) also showed a positive monthly uptick (Oct 2021 vs Sept 2021). While most industries continue to retrieve hiring numbers, few sectors such as Shipping/Marine (-11%), Healthcare, Bio Technology & Life Sciences, Pharmaceuticals (-3%), Production and Manufacturing (-1%), Media & Entertainment (-
1%), and BPO/ITeS (-1%) witnessed a month-on-month decline in job postings in October 2021.
Year-on-year, Banking/Financial Services, Insurance (46%) led e-recruitment activity, followed by Telecom/ISP (38%) and IT- Hardware, Software (37%), Printing/Packaging (31%), and Office Equipment/Automation (27%) in October 2021 (Oct 2021 vs Oct 2020). On the other hand, Government/PSU/Defence (-13%) industry witnessed the steepest annual dip in online job postings.
Demand for freshers increases by 3% year-on-year In comparison to September 2021, October 2021 saw growth across most job levels with hiring for Top management professionals (over 16 years) witnessed an increase of 4%, Senior level (11-15 years) and Mid-Senior level (7-10 years) an increase of 2% respectively, and Entry-level roles (0-3 years) a growth of 1%. Interestingly, hiring for the Intermediate level (4-6 years) saw a monthly decline of -1% (Oct 2021 vs Sept 2021).
On a year-on-year basis, hiring for Entry level professionals witnessed a promising growth of 3%, showing consistent demand for freshers across industries. Top Management (70%), Mid-Senior level (38%), Intermediate level (29%), and Senior level (22%) continued to witness voluminous growth in hiring activity (Oct 2021 vs Oct 2020).
Sekhar Garissa, CEO – Monster.com, a Quess company said, “In the month of October, we saw a decline in hiring activities by 3%. This is a yearly trend we observe following festive hiring hikes. It is encouraging to see the Travel and Tourism industry dust off from the pandemic impact and truly pave its way to revival. We also see promising back-to-office trends with increasing automation and a huge spike in demand for office supplies. Moreover, the recruitment space is looking up for entry-level talent as more and more organizations are looking to hire freshers. At Monster.com, we have seen a huge improvement in the intent to hire by top companies via our virtual career fair for freshers Aspire.”
Period for the report
The period considered for the MEI data is 1 st to 31 st October 2021.
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About Monster Employment Index:
The Monster Employment Index is a broad and comprehensive analysis of online job posting activity
conducted by Monster India. Monster Employment Index was first launched in India in May 2010 and has been
collecting and analyzing recruitment related data from global markets such as Gulf, Singapore, Philippines, and
Malaysia for over a decade. Monster Employment Index does not rely on job postings on the Monster
database alone; MEI is based on the real-time review of millions of employer job opportunities culled from a
large, representative selection of online career outlets.
About Monster APAC & Middle East
Monster (a Quess Company), the leading online career and recruitment resource, with its cutting-edge
technology provides relevant profiles to employers and jobs to jobseekers across industry verticals, experience
levels, and geographies. More than 75 million people have registered on the Monster network. Today, with
operations in more than India, Southeast Asia, and the Middle East, Monster provides the widest and most
sophisticated job seeking, career management, recruitment, and talent management capabilities globally.
Monster continues its pioneering work of transforming the recruiting industry with advanced technology using
intelligent digital, social and mobile solutions, and a vast array of products and services.
To learn more about Monster in APAC & Gulf, visit: www.monsterindia.com | www.monstergulf.com |
www.monster.com.sg | www.monster.com.my | www.monster.com.ph | www.monster.com.hk
Contact
Vinayak Palankar
CMO, Monster.com
vinayak.palankar@monsterindia.com
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