Recession seems to have well and truly been overcome – The Indian Employment market is bustling again. According to Manpower Employment Outlook Survey, Employer Hiring Expectations in India Remain the Most Optimistic Worldwide.
So if you are one of those looking out for jobs, worry not – It may soon come knocking at your door.
Look at the graph below, it will tell you the story !
Indian Employment Outlook
Indian employers report the most optimistic forecast among all 35 countries and territories participating in the survey.
India’s Employment Outlook has improved by 6 percentage points quarter-over-quarter, although weakens by 14 percentage points when compared to 4Q 2008. Job seekers in the Finance, Insurance, Real Estate, Services industry sector, the Wholesale & Retail Trade sector, the Public Administration & Education sector, the Mining & Construction sector and the Services sector can look forward to the most favourable hiring environment.
India remains the most optimistic labour market among the 35 countries and territories surveyed globally. (source)
Just to compare the net Employment Outlook of India to other major and upcoming Economies – Brazil is closest to India at 21% followed by China at +8% and Canada at +5%, United States is still lingering in negative territory with -3% employment outlook, and the United Kingdom at -2%.
The most optimistic employment forecasts after India are reported by employers in Brazil, China and Australia.
Industry-Wise Employment Outlook in India
- Hiring optimism is strongest among employers in the Wholesale & Retail Trade (+34%) industry sector.
- Employers in the Finance, Insurance & Real Estate sector reported 8 percentage point improvement at 28% in Net Employment Outlook over last quarter.
- The lowest hiring pace in India is reported by employers in the Transportation & Utilities (+16%) industry sector.
- Employers in the Manufacturing (+21%) industry sector are also reporting their least optimistic hiring forecasts since the India survey began.
Region Wise Employment Outlook in India
- Employers in the East and South (both at +25%) regions reported the country’s strongest hiring expectations.
- The Outlook in the East is 3 percentage points stronger quarter-over-quarter.
- Employer hiring intentions in the South are the weakest reported in the region since the survey began in 3Q 2005, and represent a decline by 16 and 18 percentage points quarter-over-quarter and year-over-year, respectively.
- Employers in the West (+20%) region report the country’s weakest hiring intentions, though the Outlook is 7 percentage points stronger when compared to 3Q 2009.
There you go – if you were holding off your plans to switch jobs – Dont. Some great times are ahead for prospective job seekers !