scorecardresearch
Job demand in telecom climbs amid 5G push

Job demand in telecom climbs amid 5G push

Monster Employment Index (MEI), for July 1 to July 30, said the telecom sector "retained keenness to hire" on an upswing on account of growing digitization and the much-anticipated rollout of 5G services, resulting in scaling up hiring by up to 15 per cent on a yearly basis.

Retail sector has seen an improved job demand of 10 per cent on account of the upcoming festive season, the report stated. Retail sector has seen an improved job demand of 10 per cent on account of the upcoming festive season, the report stated.

The upcoming 5G rollout and arrival of the festive season has boosted India's job demand after months of hiring fluctuations, global talent management platform Monster.com said in its monthly analysis.

Monster Employment Index (MEI), for July 1 to July 30, said the telecom sector "retained keenness to hire" on an upswing on account of growing digitisation and the much-anticipated rollout of 5G services, resulting in scaling up hiring by up to 15 per cent on a yearly basis.

Also, the retail sector has seen an improved job demand of 10 per cent on account of the upcoming festive season, the report added.

It also mentioned that Tier 2 cities are now frontrunners in hiring with Coimbatore and Ahmedabad indicating growing demand for talent across segments.

In addition, Pune posted an astonishing 66 per cent incline for employment opportunities in the BFSI (Banking, Financial Services and Insurance) industry, firmly consolidating its place as India's fastest-growing fintech hub. And, the BFSI industry posted a demand upswing of 25 per cent propelled by digitization, payment innovations and increased penetration of financial services.

In July, the white-collar environment has stabilised on an annual basis, it also said. Eight out of 13 cities monitored by the index cited positive year-on-year growth in last month with Mumbai (up 20 per cent) registering the highest growth among metropolitan cities.

While the index flattened by 1 per cent (month-on-month) amidst fears of global recession, inflation and macroeconomic headwinds, several industries driven by demands of digitization and changing consumer sentiments continue to do well.

Sekhar Garisa, CEO - Monster.com, a Quess company said, "After months of uncertainty, the Indian job market has stabilised with hiring demand holding up in July, as anticipated. This is good news at a time when most countries are tightening their belts in fears of an upcoming recession."

Top management demand on the rise

The demand for top management garnered an encouraging 18 per cent incline in hiring activity, showcasing the need for leaders to tide companies through fears of growing unstable economic conditions, the report underscored.

Sales and marketing communication roles dip

Roles across marketing and communications, sales and business development have noted marginal dips as more companies cut costs and reduced branding spending.

Also, engineering, production, purchase, logistics, supply chain and healthcare recorded the highest annual decline in July this year from the year-ago level.

In contrast, the chemicals, plastic, rubber, paints, fertilizer, pesticides industry registered maximum annual growth of 32 per cent led by growing investments in the chemical sector.

Published on: Aug 08, 2022, 5:06 PM IST
Posted by: prashun talukdar, Aug 08, 2022, 4:56 PM IST