Hiring to pick up pace
The pace of hiring is expected to remain active in the first quarter (January-March 2018) of the new calendar year, according to ManpowerGroup’s latest Employment Outlook Survey.
According to the survey, once the data is adjusted to allow for seasonal variation, employers report an outlook of +22%.
The survey was conducted among 4,500+ employers across the country across various segments of industries. The survey further points that opportunities for job seekers are expected to be slightly stronger than they were in the previous quarter.
A G Rao, group MD at ManpowerGroup India, said, “As the Indian economy maintains its escalating growth trajectory, the job market looks positive. Despite the market volatilities, India’s macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects.”
According to Rao, the job market continues to sustain the momentum gained over the past few months. “Undertaking several measures to stabilise, sustain and promote economic growth on continued basis is on the agenda of the government. There are continuous ongoing measures to encourage industries to expand their operations, which in turn will help boost the job market. Employer hiring intentions remain positive in all seven sectors, primarily driven by services, mining and construction, manufacturing, and transportation and utilities sectors,” said Rao.
According to the survey, workforce gains are expected in all seven industry sectors during the January-March period. Services sector employers report the strongest net employment outlook of +27%, while employers in three sectors report upbeat outlooks of +15%, +19% and +20% for the finance, insurance & real estate, manufacturing and mining & construction sectors, respectively.