Mumbai, 12 December 2017: Hiring intentions in India improve for the second consecutive quarter following the country’s weakest historical Outlook from Q3 2017. Increased opportunities for job seekers are expected in all seven industry sectors and across each of the four regions. ManpowerGroup’s Latest Employment Outlook Survey Indicates Positive Vibes in the Indian Job market.
According to the Survey released today by ManpowerGroup India, Indian employers expect the hiring pace to remain active in the January-March time frame. Once the data is adjusted to allow for seasonal variation, employers report an Outlook of +22%. The survey was conducted among 4500+ employers across the country across various segments of industries. The survey further points that opportunities for job seekers are expected to be slightly stronger than they were in the previous quarter.
Sectoral Trends: Workforce gains are expected in all seven industry sectors during the January-March period. Services sector employers report the strongest Net Employment Outlook of +27%, while employers in three sectors report upbeat Outlooks of +15%, +19% and +20% for the Finance, Insurance & Real Estate, Manufacturing and Mining & Construction sectors, respectively.
Elsewhere, Public Administration & Education sector employers anticipate a similarly steady labor market, reporting an Outlook of +18%, while positive Outlooks of +18% and +19% are reported by employers in the Wholesale and Retail and the Transportation & Utilities Trade.
When compared with 4Q 2017, hiring plans strengthen in five of the seven industry sectors. Finance, Insurance & Real Estate and Manufacturing sectors employers report an increase of 2 and 5 percentage points, respectively, while Outlooks remain relatively stable in both the Public Administration & Education and Wholesale sectors. Meanwhile, hiring plans improve slightly in the Services and Mining & construction sectors, and remains relatively stable in the Transportation & Utilities sector.
Year-on-year, hiring prospects nominally improve in only the Services sector where the Outlook improves by 3 percentage points. The Outlook is unchanged in the Transportation & Utilities sector, while weaker hiring plans are reported in five sectors.
Employers forecast payroll gains in all four regions during the first quarter of 2018. The strongest labor market is anticipated in the North, where the Net Employment Outlook stands at +32%. In the South, employers report healthy hiring prospects with an Outlook of +23%, while steady hiring activity is expected in the West, with an Outlook of +17%. Employers in the East anticipate a modest increase in staffing levels, reporting an Outlook of +7%.
AG Rao, Group Managing Director at ManpowerGroup India said “As the Indian economy maintains its escalating growth trajectory, the job market looks positive. Despite the market volatilities, India’s macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects. The job market continues to sustain the momentum gained over the past few months.