New Delhi: Job seekers in India can look forward to rewarding times in the next three months as employers across sectors plan to hire more people.
As per the Manpower Employment Outlook Survey for the fourth quarter of 2007, conducted in 27 countries, with a Net Employment Outlook of +47%, India is leading the employment growth in Asia Pacific followed by Singapore, Australia, New Zealand and Hong Kong.
The Net Employment Outlook of +47% for the fourth quarter represents an increase of 8 percentage points quarter-on-quarter and a 5 percentage point increase year-on-year. This is also the strongest outlook reported in India since the survey began in 2005.
Of the 4,922 employers surveyed in India, 49% expect an increase in hiring activity in Q4 2007, 2% anticipate a decrease, and 41% expect no change. The Net Employment Outlook is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location over the next quarter.
In India, across seven major sectors, the booming Services and Finance/Insurance/Real Estate sectors are likely to account for maximum increase in job opportunities.
As per the survey, conducted by Manpower Services India Pvt. Ltd, a subsidiary of Manpower Inc, employers in the Services sector, with a net employment outlook of +54%, are the most optimistic about hiring more people. However, the manufacturing sector reported the weakest employment outlook with a still robust +40%.
“With employers implementing business strategies and plans in full motion, hiring activity is projected to gain further momentum in this quarter. The optimism of Indian employers is reflective of the pace at which business throughout India is growing,” Soumen Basu, executive chairman of Manpower India, said in a press release.
The survey was conducted in thirty cities including the six metros, emerging cities like Ghaziabad and Amritsar and state capitals like Patna and Guwahati.
The Manpower Employment Outlook Survey was conducted in India among employers across seven industry sectors: Finance/Insurance/Real Estate; Manufacturing; Mining and Construction; Public Administration and Education; Services; Transportation and Utilities, and Wholesale and Retail Trade.