March sees dip in hiring, but overall outlook positive

The March quarter has witnessed a growth of 4% in job postings across various job sectors, according to Monster Employment Index, a job analysis report by Monster.com. The overall data, however, indicate that the employment index saw a slight decline in job posting activity in March 2021, with a 2% drop compared to the previous month, February 2021.

In terms of month-on-month (M-o-M) growth, industries such as Logistics, Courier/Freight/Transportation (19%), Printing & Packaging (5%), and Office Equipment/Automation (5%) witnessed a significant increase in job postings in March 2021 as compared to February 2021, according to the report.

Cities such as Bengaluru and Pune have witnessed a positive M-o-M uptrend of 2% and 1% in March 2021. The same cities have also observed a yearly uptrend, with recruitment activities in Bengaluru (14%), Hyderabad (6%), and Pune (2%) growing in March 2021 year-on-year compared to March 2020.

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In the M-o-M comparison to February 2021, most departments have witnessed a slight decline in March 2021. However, the Software, Hardware, Telecom roles continue to recover with a 2% month-on-month growth as of March 2021 compared to February 2021, the report suggests.

As of March 2021, month-on-month growth in job postings is seen across most levels compared to February 2021, except for entry-level jobs that saw a dip in demand by (-)3%.

Sekhar Garisa, CEO - Monster.com said, “While the overall index witnessed a slight drop in recruitment activity, major cities such as Bengaluru and Hyderabad show a positive outlook in hiring demand compared to last year. With companies re-adapting to the flexible-hybrid work model, and digital hiring on the rise with innovative tech, we anticipate a recovery of the Indian job market in the coming quarters.”

Another report by TeamLease Services called ‘Employment Outlook Report’ says if further lockdowns and workplace operating rules are not enforced, the intent to hire in the current quarter (April - June 2021) can rise 7 percentage points over the previous quarter (Jan 2021- March 2021). In fact, out of the 21 sectors reviewed more than 8 sectors will witness a 9-11 percentage points rise in their intent to hire in the current quarter.

From a geography perspective, while Metro and Tier 1 cities (32%) take the lead in terms of overall intent to hire, with 9% increase each, Tier 3 cities also are not far behind. Tier-3 towns have witnessed a 5 percentage point increase.