The job market is showing signs of a slowdown engulfing sectors such as automotive, agro-based industries, consumer goods and fastmoving consumer goods, according to the latest half-yearly analysis of Monster Employment Index. The latest report of the index, shared exclusively with ET, shows a 5% decline in online hiring across 27 sectors in India in the first half of 2019 compared to that in the previous six months.As per the report, the metros fared worse than tier 2 cities in hiring during the January-June period.The automobile sector saw a 13% year-on-year fall in online hiring demand owing to a slump in sales. According to industry estimates, the sector saw a loss of 350,000 jobs over the past four months. The automobile and ancillaries industry together saw a 7% decline in the first half of the year compared to that in the preceding six months, according to the report.“Within automotive industry, there have been certain developments like RBI repo rate cut, which should revive the appetite for car loans and hence the demand. The government is also focusing on electric vehicles, which should help the sector in the long-term,” said Krish Seshadri, CEO, APAC & Gulf, Monster.com.The telecom sector, however, registered a 9% increase in online hiring demand during the period compared to that in the previous six months. The next wave in telecommunications, 5G, is creating demand for talent among telecom operators, said the report.Overall, the metros saw a lower hiring demand than tier 2 cities during the first half of 2019. For instance, Baroda witnessed an 11% increase in demand in the first half of 2019, recovering from a 19% fall a year ago, and Ahmedabad registered 5% growth after a 16% fall in demand in the first half of 2018.The agro-based industry, which has been seeing a consistent decline in demand for online hiring, witnessed a 74% fall in the first half.
from Economic Times https://ift.tt/2zr2kbz
No comments:
Post a Comment