Hiring hopes taper pink slip fear in Q4

Hiring hopes taper pink slip fear in Q4
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First Published: Tue, Sep 08 2009. 04 11 PM IST
Updated: Tue, Sep 08 2009. 04 11 PM IST
New Delhi: India has again emerged as the most bullish country in terms of hiring plans, with 25% of the employers intending to recruit people in the next three months.
Wholesale and retail trade along with finance, insurance and real estate sectors are among the most optimistic when it comes to hiring intentions.
Global staffing services firm Manpower has said India has a net employment outlook—a measure of recruiting plans—of 25% for the fourth quarter of 2009, the highest among 35 countries surveyed.
The employment outlook for the next three months is much higher than 19%, forecast for the third quarter of this year.
“Indian employers have absorbed the layoffs conducted in the third quarter and are telling us they will being hiring again at a conservative pace, but most intend to keep their workforces intact through the end of the year,” Manpower India’s managing director Naresh Malhan said.
However, the employment outlook for the Q4 of this year (19%) is less by 14 percentage points, as compared to the same period a year ago. India has seen the most favourable hiring environment since the third quarter of 2008, the report said.
Nearly 5,637 employers spread across 30 Indian cities were surveyed.
According to Manpower, job seekers in the finance, insurance, real estate, services industry, wholesale and retail trade, public administration and education, mining and construction segment can expect favourable hiring environment.
“Good news is that in the fourth quarter, job seekers in key industry sector can look forward to the most favourable hiring environment.
“We are also seeing accelerating hiring plans in India’s mining and construction sector, thanks to government efforts in support of infrastructure projects,” Malhan said.
Compared to the third quarter of 2009, employment outlook for wholesale and retail trade has shot up by 13 percentage points to 34%. The same for finance, insurance and real estate sector is at 19% and that for services sector at 25%.
As per the survey, the softest hiring pace is reported by employers in the transportation and utilities at 16%.
Malhan noted that all regions in the country are witnessing improving hiring trend as compared to recent months.
Globally, in terms of hiring optimism, India is followed by Brazil (21%), Colombia (13%), Peru (9%), China (8%) and Australia (7%).
The weakest recruitment intentions for the Q4 are in Romania, Spain, Ireland, Japan and Mexico.
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First Published: Tue, Sep 08 2009. 04 11 PM IST