Online recruitment activities in May 2017 registered 7 per cent year-on-year growth, according to Monster Employment Index, with sectors such as telecom and banking leading the growth, but manufacturing showing a steep decline.

Telecom/ISP continued to lead the growth chart with 49 per cent despite increasing speculation of massive job loss in the sector due to ongoing consolidation led by key players, said a release by the online recruiting firm.

The year-on-year growth rate in the banking/financial services, insurance sector grew to 39 per cent in May from 31 per cent in April. However, production and manufacturing plunged 37 per cent, recording the steepest year-on-year decline even in May 2017.

Online demand in retail was also down 14 per cent, but eased below the year-ago level. The retail sector recorded 20 per cent decline in demand on a month-on-month basis, while in logistics, courier/freight/transportation, demand eased below the year-ago level for the first time since March 2014, but was still down 5 per cent.