Recruiters turned cautious in May: Monster Employment Index

NEW DELHI: Amid worries over high inflation driving up costs due to the current socio-economic scenario globally, the Monster Employment Index levelled down by 4% month-on-month reflecting cautious recruiter sentiments in May.

Having observed a dip since September 2021, Media and Entertainment (down 19 percent) continues down a steep slope of decline indicating a long way towards post-pandemic recovery, says the report.

Online recruitment activity contracted in Engineering, Cement, Construction, Iron/Steel (down 9%) although minor improvement was seen last month. Shipping/ Marine (down 4%) also noted a first annual dip from a year ago.

Industries such as Telecom, BFSI, and Import/Export, however, have exhibited optimistic job trends contributing to the overall annual growth in job posting activity.

Hiring demand for Travel and Tourism professionals observed a spike of 27% for the third consecutive month as a result of limited travel restrictions and improved economic recovery, according to the report.

Online job posting activity for Finance and Accounts (up 49 percent) and HR and Admin (up 36 percent) roles led the growth pie and are estimated to continue on this path in the coming months, it notes.

Commenting on job trends for the month of May 2022, Sekhar Garisa, CEO - Monster.com, a Quess company said, "So far, the Indian job market is faring well despite the current sentiment on sobered hiring. Recruiters have not scaled down their ambitions to hire talent and there is most definitely unmet demand in the market today. In terms of the job outlook, businesses will continue to grow, and we see this demand reflected in segments such as Import/ Export, Telecom, Travel and Hospitality and BFSI, which continue to grow on the back of growing digitization efforts."