hi,

see the both of the stream you have mentioned are the combination stream , production engineering has concepts of mechanical engineering, operations research, where metallurgical engineering is combination of chemical and industrial engineering. however none of the stream can not be said as easy stream, but you should chose as per your subjects of Interest. now coming to job prospect there is wide scope in different industry from both of the stream, but the vacancy is comparatively less in public sector undertakings.

hope it would help.