Online job opportunities rise 22% in October 2010

The Monster Employment Index India slid two points (two percent) month on month in October. However, the online recruitment market as indicated by the longer-term (year-on-year) trends has recouped to come a long way in the last thirteen months. Online job opportunities in October 2010 exceeded October 2009 by a robust 22 percent.

With a year of data collected, and in keeping with best practices, Monster.com has officially re-scaled the Index using the first twelve months (from October 2009 to September 2010) as a new baseline.

The newly re-scaled monthly historical numbers continue to accurately reflect the up and down movements over the past year, and moving forward, will serve as the Index's basis of measurement. According to the newly re-scaled baseline, the Index measured 106 in October, dipping slightly by two points from September.

The Index's October 2010 level stands in stark contrast to October 2009 when Index results stood at 87. Since that time, nearly every industry, occupation and region has shown steady year-over-year growth that is indicative of sustained labour market expansion. Re-scaled results for the Monster Employment Index's first thirteen months are mentioned in the table.

“Several economic indicators are pointing towards moderation in growth as also reflected by the marginal contraction in the Index in October. Nevertheless, the longer term trends show that the market has recouped. Various industries, occupations and all 13 markets continue to record positive annual growth trends,” said Sanjay Modi, Managing Director (India/ Middle East/ South East Asia), Monster.com

Seventeen of the 27 industry sector monitored by the Monster Employment Index registered increased online opportunities between September and October 2010; opportunities declined in six industry sectors and remained unchanged in the remaining four sectors.

The IT sector registered the steepest monthly decline of 10 points (nine percent). Nevertheless, year-on-year the sector is up by 19 percent. Similar downturn is also observed in the BPO/ITES sector that edged down by three points (three percent) between September and October. Banking, Finance and Insurance was among the weakest growing sector. The index reading for the sector at 80 was lowest for the series and fell short of the year-ago levels by three points (four percent). Telecom/ISP registered the steepest annual decline.

Engineering, Cement, and Construction, Iron / Steel sector recorded marginal monthly increase (one percent) in October and a robust 25 percent growth Year-on-Year. The Automotive/ Ancillaries / Tyres sector also exhibited a two percent monthly growth.

Online hiring in the Production and Manufacturing remained steady at September level while the related Logistic, Courier/ Freight/ Transportation was among the top four sector registering one of the most significant improvements (24 percent) in online recruitment activity. Healthcare, Bio Technology & Life Sciences, Pharmaceuticals registered 12% year-on-year growth. Online job opportunities in Real Estate sector have also shown significant expansion year-on-year (30%).

The Consumer Goods/ FMCG, Food & Packaged Food industry recorded notable improvement in online hiring scenario. The sector exhibited a month-on-month growth rate of 17% in October. Agro-based industry emerged as one of the leading gainers both on monthly (27%) as well as annual (43%) growth. Among others, Garments/ Textiles/ Leather, Gems & Jewellery; Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides; and Media & Entertainment show markedly improved recruitment activity in October as compared to that in September.

Online demand strengthened in four out 14 occupational groups monitored by the Index in October. Yearly growth rate was positive in case of 10 occupational groups.

Hospitality and Travel (nine percent) saw the greatest increase in online demand in October. The group also exhibited the steepest yearly gain (42%) among all occupation groups. Employers are back hiring Marketing & Communication professionals. The month saw demand for the group go up by two percent to reach the August level. The year saw considerable expansion (33%) in online opportunities at the Senior Management level.

Online opportunities for IT professionals tapered three percent in October following an 11% growth in September. The group nonetheless registered 24% year-on-year growth indicating an overall improvement in the hiring scenario for IT personnel. By contrast, demand for the Customer Service Professionals improved one percent over the September levels. Demand for Finance and Account professionals contracted further.

Jaipur lead all cities in monthly growth becoming the only city to exhibit improved recruitment trends in October 2010 against September. Pune (35%) recorded the steepest year-on-year growth among all 13 cities while Chennai (22%) followed by Delhi-NCR (21%) were the top growing cities (year-on-year) among the major metropolitan markets.

All major metropolitan market witnessed dip in online hiring trends between September and October following positive month-on-month growth in September. Hyderabad registered the steepest monthly decline (-10%); the city also saw the smallest annual rise (17%) among all cities.