CHENNAI: Amid a sharp decline in India’s economy in the first quarter of 2017, while there is a visible sluggishness on the job market, online job portal Monster.com, on the contrary, portrays a rosy picture of online recruitment activities. In August too, online recruitment has shown an uptick registering 14 per cent y-o-y growth in activities, according to Monster Employment Index.
The home appliances sector rose 54 per cent, probably due to the festive season, followed by NGO/social services sector at 38 per cent and banking, financial services and insurance (BFSI) sector at 35 per cent. The growth rate in BPO/ITES, production and manufacturing, however, declined. at 20 per cent and seven per cent respectively.
“While sectors such as home appliances and FMCG continue to exhibit growth, other sectors such as real estate, retail, BPO/ IT, production and manufacturing await revival. The overall market continues to be dynamic owing to various socio-economic factors and technological revolution,” said Sanjay Modi, MD, Monster.com, APAC & Middle-East.
Meanwhile, analysts say the implementation of the goods and service tax (GST) is a progressive step and will have a positive impact on the job market nudging the overall growth. Hiring prospects is likely to bring cheer during the October-December period after three consecutive quarters of sluggishness, though at a much slower pace compared with the same period last year, according to staffing company ManpowerGroup.
Reiterating the same, Rituparna Chakraborty, executive V-P at TeamLease Services, said the first and second quarters are mostly stressed when organisations are focused on budgeting, increment and revisions.
“With the entire GST implementation diverting the attention of the organisations towards stabilising the job market, this quarter is likely to see a gradual pick-up driven largely by e-commerce, logistics and FMCG. The situation looks more positive owing to the festive season during which firms require additional staff to handle the spike in orders and deliveries,” she added.