August witnesses marginal growth in hiring activity sequentially: Report
The second wave of the pandemic did not have any impact on job demand in last six months, which recorded a sequential growth of 5%
According to a report on Monday, hiring activity in August saw a marginal growth of 1% sequentially due to a decline in job postings in sectors that includes engineering, logistics, agro-based industries sectors among others, which has shown a slight improvement in the previous month. However, the overall job postings last month, had witnessed a small uptick with a 1% rise as compared to the previous month. Overall job postings have also improved by 14% YoY in August 2021 as against August 2020, indicating a strong recovery in the pipeline, the data showed.
It also added that the second wave of the pandemic did not have any impact on job demand in last six months, which recorded a sequential growth of 5%.
Hiring demand online witnessed a positive MoM growth of 24% in garments, textiles, leather, gems and jewellery, followed by production and manufacturing at 8%, oil, gas, petroleum, power at 6%, shipping, marine at 4%, and BPO/ITES industries at 3%, as of August, as per the report.
It also noted that the rise in job postings could be attributed to the imminent festive season and seasonal hiring across industries.
The textile sector is expected to see a boosted growth owing to the cabinet’s approval of the PLI scheme. In July 2021, travel and tourism which increased by 2%, witnessed a massive MoM growth and continues to show a positive outlook in August 2021.
However, industries like engineering, cement, construction, iron and steel witnessed a MoM fall of 7% in job postings in August followed by agro based industries (6%), FMCG, food and packaged food (5%) and logistics, courier, freight, transportation (4%), which had shown a small improvement in the previous month.
Hiring on the rise in metros
The report said that the hiring landscape across metropolitan cities has also been consistently on the rise across sectors, since May 2021.
Meanwhile, in August the report indicated that city wise trends have seen moderate MoM growth in job postings across Mumbai (3%), Hyderabad (3%), Chennai (3%) and Coimbatore (2%).
However, it said that cities like Kochi (-4%), Kolkata (-4%), Chandigarh (-1%) and Jaipur (-1%) have fared reasonably well in July, saw a monthly decline in job posting activity in August.