Hiring activities slowed in August amid uncertainties

According to Monster.com hiring activities slipped to 122 last month. Sectors that saw relatively less hirirng activities include Banking/financial services/insurance, real estate, telecom/ISP

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.

Leading job portal Monster.Com today said that recruitment activities in many sectors witnessed a decline last month compared to 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 3% 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," Monster.Com (India/ Middle- East/ South East Asia) Managing Director Sanjay Modi said in a statement.

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.