Online job opportunities up 26%

The Monster Employment Index (MEI) India annual growth rate accelerated to 26 percent in November 2010. The index also rose three points (2%) month on month in November. Results for the past thirteen months are seen in the ‘New Baseline’ table on the right.

"Economic indicators show the Indian economy continuing to grow at a steady pace. The rise in online opportunities in the industrial production and technical sectors, as reflected in the Monster Employment Index, mirrors the current buoyant economic conditions," said Sanjay Modi, Managing Director (India/ Middle East/ South East Asia), Monster.com

IT sector rebounds
Annual growth rates exceeded year-ago levels in 21 of the 27 industry sectors monitored by the Index. Thirteen exhibited increases in online recruitment activity on a monthly basis.

With a 22% annual growth, the BPO/ITES sector was the most improved sector year-on-year, with 13 percent acceleration from the annual growth rate achieved in October.

The sector also registered a six percent monthly growth as employers appeared more open to hiring when compared to October.

Online recruitment saw an expansion in the Banking, Finance and Insurance on a monthly basis in November, gaining 16% in November.

The month also saw jobs rebounding in the IT sector, with online opportunities jumping six percent between October and November following the lull in October.

Logistic, Courier/Freight/Transportation recorded the highest annual growth rate with a 50% increase year-over-year.

The sector however eased slightly on a monthly basis, while online opportunities in the Production and Manufacturing sector rose. Engineering, Cement, and Construction, Iron/ Steel sector recorded growth for the third consecutive month in the index and was up five percent over October levels.

In contrast, Healthcare, Bio Technology & Life Sciences, Pharmaceuticals; and NGO/Social Services sectors exhibited notable dips in opportunities available online (6% each).

Online demand for Finance & Accounts professionals rebounds
Eleven of the 13 occupational groups monitored by the Index registered positive annual growth while eight grew on a monthly basis.

Online demand for Finance & Accounts professionals rebounded with the annual growth trend turning positive, at 3% and the occupation group registering its first positive month-on-month growth (5%) since April 2010. Following robust growth in the BPO/ITES sector, the demand for customer service professionals showed significant improvements both month-on-months as well as year-on-year.

The group registered 15% annual growth as opposed to the 10% annual decline seen in October.

Job availability levels rebounded for Sales & Business Development personnel. The group gained 5% over the previous month; the first positive growth rate witnessed since May '10.
Online opportunities for Software, Hardware, Telecom professionals jumped two percent between October and November after dipping in October. The group continues to exhibit robust annual growth (29%).

Hospitality and Travel, with a 4% monthly growth and a 27%t annual growth, continued to be among the top growth occupation groups in November.

Health Care professionals were faced with the largest decline of the month (5%) while the index fell short of the year-ago levels by 3%.

While demand for Marketing & Communication professionals dipped in November, the group exhibited one of the stronger long-term growth trends with a 32% growth from 15% in October.

Annual growth rate is positive and robust
All 13 cities monitored by the Index exhibited robust annual growth while seven cities gained month-on-month. Jaipur led all cities on monthly growth gaining eight points to reach 113 in the index, the highest in the series.

Mumbai recorded the modest month-on-month growth but the largest year-on-year growth of 34% among all 13. Recruitment trends in Delhi-NCR, Hyderabad and Bangalore remained constant while Chennai exhibited a 2% month-on-month growth.

Online opportunities in Kolkata tapered further down by 2% in November.

The year-on-year growth trend at 12 percent nevertheless continues to be robust and positive.

Launched in May 2010 with data collected since October 2009, the Index is a broad and comprehensive monthly analysis of online job demand in India.