New Delhi: The services sector will be the top employer in India, while the public administration and education sector is to hire the lowest number of employees. Overall, though, the Manpower Employment Outlook Survey, released on Tuesday, says Indian employers are anticipating a stronger third quarter employment outlook, compared with their counterparts in the Asia Pacific region.
For the survey, 4,925 employers across seven sectors including finance, services and retail were interviewed. The findings show they would continue to hire aggressively in the third quarter of this fiscal. “This can be attributed to businesses gaining momentum around this time,” said Soumen Basu, chairman, Manpower Services India Pvt. Ltd.
According to the survey, the strongest outlook was reported by employers in the services sector (46%), up 13 percentage points over the previous quarter. Sentiment for both manufacturing (40%) and transport and utilities (38%) improved by 12 percentage points, while the finance and real estate sector (34%) reflected an increase of 13 percentage points. Employers in the public administration and education sector (27%), which saw a drop by six percentage points over the previous quarter, reported the weakest employment outlook.
“The services sector is very manpower intensive and the outlook is also reflective of the 30-40% growth it’s showing,” said Piyush Mehta, senior vice-president, HR, Genpact. Overall, employers expect an 8% increase in employment in the third quarter. “India’s steady GDP growth at around 9% appears well entrenched to build on the current momentum,” said P. Dwarakanath, president, National Human Resource Development Network.