Indian Economy News

Retail sector hiring surges 47% in April

According to the monthly Monster Employment Index (MEI) issued on April 9, the country's retail sector showed a rise in hiring in April, showing double-digit growth for the first time since the start of the pandemic.

According to the report, retail hiring increased by 47% YoY, surpassing pre-pandemic levels.

In April, India saw a 15% YoY increase in hiring demand and a 4% month-over-month increase in demand, thanks to a positive business climate.

Consumers were trapped indoors for longer periods of time following the pandemic, which had a severe impact on retail sales. Meanwhile, online buying has harmed the business of traditional merchants. This resulted in huge job losses across a variety of retail types, both organised and unorganised.

However, merchants reported a robust sales recovery in the second half of the March quarter. According to them, demand for formal attire, children's wear, and women's casuals has increased.

According to the Retailers Association of India's March Retail Business Survey, retail sales increased by 28% YoY and 12% over March 2019.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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