Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
If the third wave of Covid-19 does not rear its ugly head, June 2021 will go down as the crucial month when the economic activity started picking up and hiring resumed in right earnest. All 27 industries monitored registered by the online job portal monster.com positive hiring growth in June compared to May this year. According to a report by monster.com it recorded a positive outlook for job recovery with the easing of lockdowns across the country in June, compared to May. The industries that witnessed year-on-year growth in June were telecom/internet service provider (ISP) (39%), computer hardware and software (32%), logistics, courier, freight and transportation (29%).
Another bright spot has been the hiring of entry-level job seekers that rose 6% in June compared to May this year.
City-wise trends
According to the survey, the cities that registered high rates of year-on-year (June 2021 compared to June 2020) recruitment included Bangalore (50%), Pune (28%), Hyderabad (22%), and Chennai (22%). Other cities were Mumbai (7%), Chandigarh (7%) and Delhi (4%).
But hiring shrunk in cities such as Baroda (-23%), Jaipur (-18%), Kolkata (-15%), Coimbatore (-3%), and Kochi (-1%).
Compared month-on-month postings in June 2021 compred to May 2021 rose in Baroda (9%), Chandigarh (6%), Pune (6%), and Coimbatore (6%), Bangalore (2%), Kochi (1%), and Hyderabad (1%).
IT, ISP and telecom up 35%
“The demand for professionals in software hardware, telecom functions showed an uptrend of 35% year-on-year as of June 2021 compared to June 2020, on account of increasing digitisation and e-recruitment activities,” wrote monster in its report.
“With the ease of lockdown restrictions, all 27 industries monitored by the index witnessed positive month-on-month growth. The industries such as import/export (25%), production and manufacturing (14%), shipping/marine (11%), and healthcare, bio-technology & life sciences, pharmaceuticals (10%) have shown the highest growth month-on-month (June 2021 v/s May 2021),” the report noted.
Other industries that showed an uptrend in hiring compared to May 2021 were banking/ financial services, insurance telecom/ISP, real estate, and media and entertainment. Even the travel and tourism sector that was one of the most severely impacted during the pandemic also showed a 3% uptrend compared to previous months observed monster.
Nominal growth
Among the industries that registered a nominal 1% rise in hiring in June compared to May were agro-based industries, FMCG, food and packaged food, and printing/packaging.
But industries that were most severely impacted by the second wave of the virus witnessed annual decline in job postings. Some of these industries that recorded negative growth in June 2021 compared to June 2020 were travel and tourism (-42%), education (-27%) and oil/gas/petroleum and power (-18%).
Entry level
“It’s positive to note that hiring for entry-level jobs (0-3 years) has seen the highest month-on-month growth at 6%, as compared to the previous months,” it said.
This uptrend in recruitment also coincided with the recovery in the broader employment scenario. Unemployment rates as monitored by the Centre for Monitoring Indian Economy came down from the high’s of about 14% and settled to single digits in June.