As many as 24% of 5,005 employers surveyed across India forecast an increase in staffing levels. Representational Image
There's some good news for job seekers, as the country's job market is slightly getting better compared to the last two quarters of this year.
As many as 24% of 5,005 employers surveyed across India forecast an increase in staffing levels, 4% anticipate a decrease and 56% expect no change, resulting in a Net Employment Outlook of 20%. Once the data is adjusted to allow for seasonal variation, the Outlook stands at 19%, according to the ManpowerGroup Employment Outlook Survey released on Tuesday.
Though hiring prospects are 4 percentage points stronger when compared with the previous quarter, it declined by 11 percentage points when compared with this period a year ago, adds the survey.
Global workforce solutions company, Manpower Group, conducts survey quarterly to measure employers' intentions to increase or decrease the number of employees in their workforces during the next quarter.
While large- and medium-size employers report positive hiring plans with Net Employment Outlook of 19%, small employers report an outlook of 17%. When compared among regions, North stands first with an outlook of 27%, followed by the South at 20%. Respectable payroll gains are anticipated in the West with 15% outlook, and 7% in the East.
In terms of sectors, the strongest hiring prospects are reported in the services sector, with an outlook of 23%, and in the transportation and utilities sector, the Outlook stands at 20%.
Hiring plans are evident in the mining and construction sector and the public administration and education sector, as the outlook stand at 19% and 18%, respectively.
However, according to the study, hiring plans decline considerably in the manufacturing sector and the finance, insurance and real estate sector, decreasing by 15 and 13 percentage points, respectively.
A G Rao, Group Managing Director at ManpowerGroup India, said, “With increased focus of the government on the ease of doing business, many MNCs find a conducive investment climate in India, resulting in creation of employment opportunities and business growth. The Goods and Services Tax (GST) is another such undertaking that is expected to provide the much-needed stimulant for economic growth in India."