According to Monster.com report, recruitment activity in many sectors witnessed a decline during August compared with July as companies continued to exercise a cautious approach amid economic uncertainties
Hiring activities across many sectors, including financial services and real estate, turned sluggish in August as companies continued to exercise a cautious approach amid economic uncertainties, says a report.
Job portal Monster.com said recruitment activity in many sectors witnessed a decline during August compared with July.
The sluggish trend is reflected in the Monster Employment Index a monthly gauge of hiring activities online, which slipped to 122 last month compared to 123 in July. In June, the same was at 131.
According to Monster.com, sectors that saw relatively less hiring activities include banking, financial services, insurance, real estate and telecom/ISP.
On an annual basis, the index slumped about three per cent last month compared to the reading of 126 recorded in August 2012.
“The decline in annual growth is reflective of the uncertain economic/political scenario. The employers are adopting a cautious approach in hiring due to prevailing challenging economic conditions which is reflected in the index,” said Sanjay Modi, managing director of Monster.com for India, Middle East and South East Asia.
Meanwhile, online recruitment activities rose in eight of the 13 geographies covered by the index. The rise was seen in Chandigarh (16%) and Ahmedabad (14%), among others.
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