After a coronavirus pandemic hit-year in 2020, the employment market in India's Information Technology (IT) sector is witnessing substantial growth in the country. In fact, as per a report, the entire job market is reviving strongly from the pandemic, mainly led by IT, agro-based sectors. When compared to January 2020, job hiring has significantly increased in the IT sector in several cities like Hyderabad, Bengaluru, Chennai as well has been impacted in other metro cities like Delhi-NCR, Mumbai, according to a report in Monster Employment Index, by Monster.com - a Quess Company.
The Monster Employment Index report is based on analysis of job listing data during January 2021, against the same month of 2020.
Job demand has been seen in the IT industry like software, hardware this month with month-on-month growth of 6% in job postings. These postings have come mostly in Hyderabad, Chennai and Bangalore.
The report pointed, "Although there is a dip in hiring demand in almost all the cities, some of the industries showed notable growth; IT - Hardware, Software (+10%) in Chennai saw an uptrend. Among functions, Software, Hardware, Telecom (+11%) in Bangalore reflected a huge demand for professionals.”
Hiring has also increased by 9% in Hyderabad.
Opposite to this, the report stated that IT job hiring in Delhi-NCR region has witnessed a diminishing trend by 6%, while there was a 15% decrease in Mumbai in the recruitment in the sector for January 2021.
Other trades that observed a maximum increase in job postings compared to January 2021 are home appliances (9%), agro-based industries (7%), banking and financial services, insurance (6%) and chemicals, plastic, rubber, paints, fertiliser and pesticides (5%), the report noted.
Month-on-month growth of 4% each was also seen in industries such as advertising, market research, public relations (PR), production and manufacturing and engineering, cement, construction, iron and steel.
On the other hand, the report added that compared to the former month, the media and entertainment industry remains constant, though there is an indication of a 2% year-on-year growth.
The report also showed that with the lifting of vehicular movement and reopening of the travel and hospitality sector, tourism and automotive, ancillaries and tyres have seen an improvement of 2% in job openings. However, when it comes to year-on-year comparison travel and tourism industry has been the worst hit, the report stated it observed a fall of 64%.
40% decline in Oil, gas, petroleum and power industry and BPO/ITES 40% have also witnessed a steep year-on-year decline in January 2021.
Job openings in Bangalore saw a 3% increase followed by Pune with 2% and Hyderabad 1%, whereas it remained constant in Chennai like that of January 2021.
Meanwhile, the report explained that employment of top management level experts observed 11% increase year-on-year in job postings. The functions such as legal (4%), software, hardware, telecom (3%) and senior management (2%) and finance and accounts (2%) witnessed the most month-on-month growth in job postings.
Changes in the job market have their ups and downs, noted Monster.com CEO Sekhar Garisa adding that some sectors are advancing better than others, segments such as IT and telecom, alongside agro-based industries and media and entertainment, continue to perform well.
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Travel and tourism still face a set of difficulties, he said.
"However, it has seen improvement from where it was during the onset of the pandemic. With the Covid vaccine rollout being initiated and the nation gears up to be workplace-ready, we can hope for improvements and new opportunities to open up in the coming months," Monster.com CEO Sekhar Garisa added.