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India most optimistic on Q3 hiring

Source: PTI
June 08, 2010 16:43 IST
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JobsIndia has emerged as the most optimistic nation in terms of hiring plans for the next three months, led by strong employment opportunities in the construction and mining sector, says a survey.

The Employment Outlook Survey for the third quarter of 2010 by global staffing services firm Manpower said that hiring activities in India are expected to reach the pre-recession level in the coming months.

"With a net employment outlook of 42 per cent, Indian employers report the most optimistic forecast among all 36 countries and territories (surveyed), Manpower India's managing director Sanjay Pandit said.

"The positive hiring trend in India is primarily due to strong domestic demand," he added. Indian employers have been reporting strongest hiring plans for more than two years (over eight quarters) continuously, according to Manpower.

Indicating a pick up in the job market, the employment outlook -- an indicator of hiring activities -- climbed by two percentage points as compared to the second quarter.

The outlook has improved by 19 percentage points as against the 2009 third quarter. Apart from India, strongest employment prospects were reported by employers in Brazil (40 per cent), Taiwan (39 per cent), China (27 per cent), Peru (24 per cent), Australia (21 per cent) and Singapore (23 per cent).

In India, hiring optimism is strongest in the mining and construction (46 per cent) sector, the report said.

Manufacturing sector saw the next best employment outlook of 44 per cent, followed by services (43 per cent), finance, insurance and real estate; public administration/education (both at 37 per cent); wholesale and retail trade (34 per cent) and transport and utilities (24 per cent).

"We are witnessing a notable exuberance in hiring sentiments across all industry sectors, cities and functional areas," Pandit noted.

The survey of 5,371 employers across the country showed West region was the most optimistic in terms of recruitment activities (48 per cent employment outlook) for third quarter.

"In the South, employers report a bullish outlook of 41 per cent.

In the North, employers anticipate a brisk hiring pace with an outlook of 34 per cent, while in the East, the outlook is a healthy 29 per cent," Manpower noted.

Globally, the weakest third quarter hiring plans were reported by employers in Italy, Spain, Ireland and Greece.

These nations are grappling with debt problems.

Out of the 36 countries surveyed, employers in 31 nations expect positive hiring activity in the third quarter.

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