Job street set to bloom again after gloomy days of 2008

Job street set to bloom again after gloomy days of 2008
PTI
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First Published: Thu, Jan 01 2009. 05 26 PM IST
Updated: Thu, Jan 01 2009. 05 26 PM IST
New Delhi: There is a good news for job seekers, with the companies planning to hire more than 2,50,000 new employees over the next months, making the new year a welcome change from the gloom of 2008 in the job market.
While the proposed over 2.5 lakh hiring is mostly for the financial services industry, the industry experts believe that the overall job market scenario is also set for a recovery in the second half of the year.
Topping the list of the companies planning to hire big include public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group’s Reliance Life, SBI Life, Metlife, Max New York Life.
Even some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming days.
The proposed hirings include more than one lakh of full- time employees and about 1.5 lakh in the part-time positions with the insurance companies.
Among other sectors, manufacturing and export-oriented businesses are, however, likely to continue to witness some pressure in the next few months, after huge job losses seen during 2008.
HR consultancy major Hewitt Associates believes that sectors like insurance, telecom (where new licensees are entering), infrastructure and special economic zones may look for fresh hirings in 2009, being the major beneficiaries of the government’s stimulus plans.
However, the hiring outlook remains uncertain for sectors like real estate, textile and retail sectors, it believes.
Another global HR consultancy Mercer believes that hiring plans by the companies would depend on their business prospects in the coming year.
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First Published: Thu, Jan 01 2009. 05 26 PM IST
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