The most optimistic hiring plans are reported by employers in the services sector and the mining and construction sector, where net employment outlooks stand at +49% and +47%, respectively. From a regional perspective, employers in the Southern and Western regions are expecting the most opportunities for job seekers in the months ahead, with net employment outlooks of +54% and +49%, respectively.
“With the installation of the new government at the Centre, hopes of a speedy economic revival have led to positive expectations in the employment space. India’s employers expect the optimism of a stable government to have an encouraging impact on the job market. Employers are back in hiring mode and we’re seeing evidence of their renewed optimism across all industry sectors and all regions,” said A G Rao, group managing director of ManpowerGroup India in a release.
According to the survey, employers are reporting bullish outlooks of +45% in both the finance, insurance & real estate sector and the wholesale & retail trade sector, while outlooks stand at +43% in the public administration & education sector and the transportation & utilities sector.
Employers report stronger hiring prospects in two sectors, with increases of 5 percentage points in the mining & construction sector and 2 percentage points in the services sector.However, when compared with the previous quarter, hiring intentions weaken in four of the seven industry sectors, most notably by 10 percentage points in the public administration & education sector.
In terms of region, while the strongest labour market is expected in the South, employers in the North report a net employment outlook of +39%. However, hiring prospects weaken by 14 percentage points when compared with the previous quarter. The least optimistic of the four regional Outlooks is stands at +32% in the East.
From a global perspective, hiring plans are largely positive with employers in 36 of the 42 countries and territories expecting to add to their workforces in the October-December time frame. Forecasts, however, are softer when compared to the Quarter 3 2014 results, with Outlooks improving in only 15 of 42 countries and territories. Fourth-quarter hiring confidence is strongest in India, Taiwan and New Zealand, while the weakest and only negative forecasts are reported in Spain, Italy, Ireland, the Czech Republic and Finland.
Source: The Economic Times