Hiring activity down 10% in March 2021 year-over-year, study finds

Covid-19 impact: Monster employment index fell to 266 in March 2021

Hiring activity or vacancy – which affects the employment rate in various industries, fell 2% in March 2021, compared to February this year, even as the fourth and final quarter of the 2020-21 financial year saw a 4% increase in professional activity. According to a recent report titled “Monster Employment Index – March 2021” from leading job portal moster.com. The Monster Employment Index or MEI fell to 266 last month from 296 in the corresponding month last year.

According to the report’s findings, demand for online hiring in March 2021 exceeded levels seen in March 2020, in four of the 27 industries tracked by the employment index. On a year-over-year basis, Agribusiness saw online recruitment growth of 12%, Courier/Freight/Transportation grew 9%, Computer Hardware and Software 5%, and teelcom/ISP eight percent.

Industries that saw a decline in annual growth included travel and tourism by 59%, education by 37%, and oil/gas/petroleum by 33%. The report adds that annual online demand for professionals saw growth in two of the 13 functional areas monitored by the index.

Online demand for professionals in occupations such as software, hardware, telecommunications and arts or creative has seen an increase in online hiring activity between the period of March 2020 and 2021. In the in the telecommunications sector, demand increased by 12%, while in the arts/creative fields, demand increased by 3% throughout the year.

Additionally, online hiring demand tracked by the employment index showed an upward trend in three of the 13 cities, compared to the year-ago period. Bengaluru, Hyderabad and Pune showed an upward trend in online recruitment activity. Watched by the employment index between March 2020 and 2021, Bengaluru showed an upward trend of 14%, Hyderabad 6% and Pune 2%.