The most optimistic hiring plans are reported by employers in the wholesale & retail trade sector and the finance, insurance & real estate sector, where net employment outlooks stand at +54 per cent and +48 per cent, respectively. From a regional perspective, employers in the Southern and Western regions expect the maximum opportunities for job seekers in the months ahead, with net employment outlooks of +46 per cent and +45 per cent, respectively.
“The government initiatives designed to make labour markets more flexible to effectively address employability gaps, combined with signs that the Indian business environment is improving, is reinforcing employer confidence. Opportunities for job seekers are expected to grow even stronger as emphasis is placed on improving both business growth and employment generation,” said A G Rao, Group Managing Director of ManpowerGroup India in a release. “Employers in some sectors are already responding to a pickup in industry participation, a rise in the number of start-up ventures and the emergence of India as an investment destination,” he added.
Year-over-year, employers in all seven industry sectors report stronger hiring intentions, says the survey. Outlook increases of 18 and 17 percentage points are reported in the transportation & utilities sector and the wholesale & retail trade sector. The outlook for the finance, insurance & real estate sector is 12 percentage points stronger.
When compared with the previous quarter, hiring plans weaken in three of the seven industry sectors, most notably by 6 percentage points in both the mining & construction sector and the public administration & education sector. However, outlooks strengthen in two sectors, including the wholesale & retail trade sector, where employers report an improvement of 8 percentage points.
In terms of regions, the least optimistic of the four regional Outlooks stands at +31 per cent in the East. Hiring intentions decline by 2 percentage points compared with the previous quarter and remain unchanged year-over-year.
Source: The Economic Times