Service sector job pot still on the brew
The job market in India is expected to remain vibrant in the third quarter of 2007: Manpower survey.
By INDIATIMES NEWS NETWORK |
NEW DELHI: The job market in India is expected to remain vibrant in the third quarter of 2007, according to the Manpower Employment Outlook Survey released on Tuesday.
Employers in the services sector report the most optimistic outlook [+46%] with the public administration and education employers indicating the weakest hiring intentions with a Net Employment Outlook of +27 per cent.
Hiring intentions in the finance insurance and real estate industry are considerably stronger quarter-over-quarter with an increase of 13 percentage points in the Net Employment Outlook - this is the first improvement since the fourth quarter of 2006. Outlook in five out of the seven industry sectors has improved quarter-over-quarter.
Of the 27 countries and territories surveyed globally this quarter, the hiring intentions continue to be robust in India with an overall Net Employment Outlook of +39 per cent. This represents an increase of 8 percentage points quarter-over-quarter and a 4 percentage point decrease year-over-year.
Employers in all eight countries and territories surveyed across the Asia Pacific region anticipate positive hiring activity for the third quarter. However, only Indian employers are anticipating a third quarter Outlook stronger than the previous quarter.
The Manpower Employment Outlook Survey, conducted for the ninth consecutive quarter in India, reports that employers across all industry sectors are positive about their hiring intentions.
Employers in the services sector report the most optimistic outlook [+46%] with the public administration and education employers indicating the weakest hiring intentions with a Net Employment Outlook of +27 per cent.
Hiring intentions in the finance insurance and real estate industry are considerably stronger quarter-over-quarter with an increase of 13 percentage points in the Net Employment Outlook - this is the first improvement since the fourth quarter of 2006. Outlook in five out of the seven industry sectors has improved quarter-over-quarter.
Of the 27 countries and territories surveyed globally this quarter, the hiring intentions continue to be robust in India with an overall Net Employment Outlook of +39 per cent. This represents an increase of 8 percentage points quarter-over-quarter and a 4 percentage point decrease year-over-year.
Employers in all eight countries and territories surveyed across the Asia Pacific region anticipate positive hiring activity for the third quarter. However, only Indian employers are anticipating a third quarter Outlook stronger than the previous quarter.
The Manpower Employment Outlook Survey, conducted for the ninth consecutive quarter in India, reports that employers across all industry sectors are positive about their hiring intentions.
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Of the 4,925 employers surveyed, 42 per cent expect an increase in hiring activity in the third quarter of 2007, 3 per cent anticipate a decrease, and 42 per cent are expecting no change. The Net Employment Outlook is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location over the next quarter.
Commenting on the survey findings, Soumen Basu, Executive Chairman of Manpower India said: "Robust hiring intentions across sectors can be attributed to businesses gaining momentum around this time of the year which is quite a cyclical process. Additionally, the completion of appraisals in most Indian companies amplifies the hiring activities as workers are more willing to change jobs.”
Sector Trends
Quarter-over-Quarter: Overall positive hiring intentions have been reported by employers in India. The strongest Outlook is observed among the employers in the services sector [+46%], this is an increase of 13 percentage points quarter-over-quarter. Employers’ intentions to hire in the public administration & education industry sector [+27%] are moderately weaker by 6 percentage points since the previous quarter of 2007.
Further in this quarter employers in the manufacturing [+40%] and transport & utilities [+38%] sectors anticipate a 12 percentage point stronger hiring environment. Employers in the mining & construction sector forecast a slight dip of 3 percentage points [+37%], while employers in the wholesale & retail trade sector [+38%] reported a considerably stronger Outlook that was up 10 percentage points. Employers in the finance/insurance/real estate sector have reported an improvement of 13 percentage points in their Net Employment Outlook over the last quarter.
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Year-over-Year: The comparisons reveal a year-over-year decline of 4 percentage points in the Net Employment Outlook. Of the seven industry sectors surveyed, Mining & Construction sector employers reported the largest decline in hiring activity [down 12 percentage points]. The transportation & utilities and wholesale & retail trade sectors both report an improvement of 1 percentage point, while no change is reported in the Manufacturing sector.
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