Hiring activity declines 6 pc in October: Monster Employment Index

Hiring activity declined 6 per cent year-on-year in October as recruiters adopted a cautious approach in adding new workforce, a report said on Tuesday.

Sequentially, the hiring activity has dropped by 5 per cent following the changing patterns in the startup ecosystem, funding winter and fears of an upcoming recession, according to the Monster Employment Index (MEI).

However, with companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors, hiring projections for the coming months are expected to pick up, it added.

The Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity conducted by Monster India.