After prolonged slump, hiring in India expected to bounce back next quarter.
The net employment outlook for the October to December quarter stands at 19 percent. The outlook for the same quarter last year was 30 percent. Hiring prospects are 4 percentage points stronger as compared to the previous quarter.
The survey covered 5,005 employers across India.
Sector-wise, the services sector is expected to see the highest growth in employees with an outlook of 12 percent. Services are followed by the transportation and utilities sector at 20 percent.
The remaining sectors – mining & construction, public administration & education, wholesale & retail and insurance & real estate – will also see positive growth in hiring, the survey said.
Region-wise, all four regions expect to see an increase in employment with North topping the list with an outlook of 27 percent. Inthe south and west, the employment outlook is 20 percent and 15 percent respectively.
The East has the worst outlook at 7 percent.
The survey further indicates that large and medium-sized employers report positive hiring plans with an employment outlook of 19 percent while for small businesses the outlook is 17 percent.
Globally, India’s hiring pace has fallen slightly as compared to other countries. The strongest hiring trend is visible in Japan with an outlook of 23 percent. Taiwan (22 percent), Costa Rica (19 percent), India follows Japan in the ranking.
“Fourth quarter forecasts are mostly positive with employers in 42 of 43 countries and territories expecting workforces to grow by varying margins over the next three months. Only employers in Switzerland forecast a flat fourth-quarter hiring pace,” the survey said.
In the July-September quarter, hiring in India was at a 12-year-low due to stress in the telecom and IT sector and the global scenario, a previous survey by the Manpower Group said.
Credit Source: http://www.moneycontrol.com