Employers across India are showing strong intentions to hire in the coming quarter, with the intentions being strongest in the services sector (net employment outlook is +50 per cent), reveals the ManpowerGroup Employment Outlook Survey. A good 64 per cent of employers across industries and sectors in India, intend to hire in the October to December period, while only 20 per cent anticipate a reduction in payroll and 15 per cent do not expect to see any change. Therefore, the net employment outlook — the figure calculated by subtracting the percentage of employers expecting to see a decrease in employment at their location in the next quarter, from the percentage anticipating total employment to increase — is +44 per cent
While the services sector shows net employment outlook of +50 per cent, the manufacturing sector is also expected to see strong hiring activity with an outlook of +43 per cent. The finance, insurance and real-estate sector is close behind with an outlook of +42 per cent. Brisk hiring is expected in the mining and construction sector too, with an outlook of +34 per cent, followed by wholesale and retail trade with +33 per cent.
In the transportation and utilities sector, employers expect significant increase in payroll with an outlook of +28 per cent, while the public administration and education sector shows outlook of +24 per cent.
Compared to the third quarter, employers in all seven industry sectors report stronger hiring intentions. The maximum improvement in outlook, of 43 percentage points, is seen in the services sector, while both the manufacturing sector and the finance, insurance and real-estate sector show an increase of 38 percentage points each. There has been an improvement of 37 percentage points in the mining and construction sector, and 31 percentage points in the wholesale and retail trade sector outlook.
There is an overall improvement in hiring prospects across all seven industry sectors, compared to the same period last year.
Employers across the northern, southern, eastern and western regions of India expect payrolls to grow in Q4. Strong hiring is expected in the West, with the employment outlook at +49 per cent. In the East and the North, the outlooks are +45 per cent and +43 per cent, respectively, while the South shows an outlook of +37 per cent.