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Chennai to lead job growth this quarter

Chennai to lead job growth this quarter
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First Published: Tue, Apr 10 2007. 03 10 AM IST
Updated: Tue, Apr 10 2007. 03 10 AM IST
New Delhi: Chennai will post the highest job growth in the country this quarter, according to a study released by staffing company TeamLease Services Pvt. Ltd.
The southern city will post 19% gains in employment, according to the survey of 490 human resources managers on their hiring plans for April through June. Hiring in Kolkata will likely increase by 7%, followed by Bangalore and Ahmedabad at 4%.
Rural hiring will inch up by 1% in this quarter, thanks to the foray of banking and financial services. The segment saw zero growth between January and March, while urban hiring increased by 3%.
Business confidence, according to the survey, was highest in retail, media and fast-moving consumer goods. Confidence, measured through a series of formulas on business hiring plans, fell in information-technology and IT-related services. Sampath Shetty, vice-president for TeamLease, attributed the decline in confidence to a budget that levied a tax on registered exporters. But “the economy is still very bullish about the sector. There might be a short-term slouch here or there but one or two events like the budget ... can’t really bring down a long-term story,” says R. Raghuram, HR director, Motorola India.
According to the TeamLease report, middle management hiring also has increased by 10% since last quarter, while the junior level rose by 6%.
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First Published: Tue, Apr 10 2007. 03 10 AM IST