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Employers’ hiring intentions improve across sectors (View Comments)
Posted On Tuesday, June 08, 2010 at 11:22:37 AM
According to the Manpower Employment Outlook Survey released today, job seekers in India are likely to benefit from a active labor market as India’s employers expect to hire at a pace seen prior to the global recession. With a Net Employment Outlook of +42%, Indian employers report the most optimistic forecast among all 36 countries and territories participating in the Manpower survey. India’s Outlook improves by 2 percentage points quarter-over-quarter, and improves by 19 percentage points when compared to Q3 2009. Job seekers in the Mining & Construction sector (+46%) and the Manufacturing Sector (+44%) can look forward to the most favorable hiring environment in the next three months of the year. Meanwhile, the weakest – but still strong – hiring pace is reported by Transportation & Utilities (+24%) sector employers.
“The job market has recovered sharply from the weaker forecasts of early 2009. We are witnessing a notable exuberance in hiring sentiments across all industry sectors, cities and functional areas.” said Sanjay Pandit, Managing Director of Manpower India.
The survey of 5,371 employers across India indicates that India’s labor market continues to be one of the most dynamic globally. The Net Employment Outlook in India has improved by 2 and 19 percentage points quarter-over-quarter and year-over-year, respectively. Employers in all seven industry sectors and all four regions surveyed report stronger Outlooks when compared to 3Q 2009. Hiring optimism is strongest among employers in the Mining & Construction (+46%) industry sector. The sector’s Outlook is 8 percentage points stronger quarter-over-quarter and is 24 percentage points stronger year-over-year. Stronger hiring trends are also reported in all regions in India. Employers in the West region are the most optimistic; their Outlook stands at +48% and are 8 percentage point stronger quarter-over-quarter and 32 percentage points stronger year-over-year.
Employers in the Finance, Insurance & Real Estate sector report a 3 percentage point decline in Net Employment Outlook over last quarter.. Employers in the Manufacturing (+44%) industry sector are also reporting improvements in their quarter-over-quarter and year-over-year Outlook, and the hiring pace is expected to be the strongest since the survey started in Q3 2005.
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