Hiring activity witnesses 3% uptick with end of 3rd wave: Report

Mumbai: Hiring activity witnessed a three per cent uptick sequentially in February as almost all industries showcased strong growth with the end of the third wave of the pandemic, according to a report.

Demand for talent surged seven per cent year-on-year in February 2022, according to a report by the Monster Employment Index.

February 2022 saw a monthly uptick of three per cent in hiring activity sequentially, the report added.

Across industries, February saw BPO/ITeS showcasing a strong 11 per cent growth on the increased adoption of digitisation across industries.

The demand for roles in shipping/ marine (nine per cent) and production and manufacturing (9 per cent) also witnessed a surge 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, the report noted.

The Monster Employment Index is a monthly comprehensive analysis of online job posting activity conducted by Monster India.

Further, the data from the report said demand remained steady for professionals across almost all levels of experience, which augurs well for the India economy.

All cities monitored by the Index saw an uptick, it said.

Meanwhile, all 13 cities monitored by the Index saw an uptick in job postings with Delhi (13 per cent) leading the charge, followed closely by Mumbai (8 per cent), Ahmedabad (7 per cent), Chennai (7 per cent), Hyderabad (6 per cent), Coimbatore (6 per cent), Bengaluru (6 per cent) and Jaipur (6 per cent).

While January witnessed significant dips in hiring fearing shutdowns and restrictions, it is promising to see the revival of hiring across all cities, including Kolkata (five per cent), said the report.

Baroda has also undergone a significant revival as compared to the previous month posting a five per cent increase in hiring demand during February.

"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 in travel and education in February," said Sekhar Garisa, CEO of Monster.Com, a Quess company.

The economy has stabilised and it is also heartening to see the revival of industries such as shipping and manufacturing that have received a boost with the announcement of the Union Budget 2022-23, he noted.

"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," he added.