Demand for talent surged 7% year-on-year (y-o-y) in February 2022, according to Monster Employment Index, a job analysis report by Monster.com, a Quess Company. Hiring activity has increased significantly in the past six months with a 2% incline, while February 2022 saw a monthly uptick of 3% in hiring activity compared with January 2022.
Across industries, February 2022 saw BPO/ITES showcasing a strong 11% growth owing to the increased adoption of digitisation across industries. The demand for roles in shipping/marine increased 9% and production and manufacturing were up 9% due to the announcement of the Maritime Vision 2030 and the renewed focus given to employment generation and expansion through the PLI scheme and PM GatiShakti.
Further, demand remained steady for professionals across almost all levels of experience. All cities monitored by the Index saw an uptick in hiring in February versus January.
A y-o-y comparison indicates that industries such as automation/office equipment doubled (103%) and continued to grow as the economy opens up, followed by the BFSI at 27% and printing/packaging seeing a surge of 23% in hiring. Moreover, top management roles continue to lead annual hiring demand across experience levels.
Sekhar Garisa, CEO, monster.com said, “The Indian economy has successfully overcome the impact of the third wave of the pandemic with several industries and all cities showing recovery patterns, especially travel and education this month. The economy has stabilised and it is also heartening to see the revival of industries such as shipping and manufacturing which have received a much-needed boost with the announcement of the Union Budget 2022-2023. The cities too have witnessed an upward trend in the demand for jobs and with the gradual opening of the economy, this is likely to continue.”