The job market in southern India recorded the biggest increase in the hiring intentions of companies, while the east remained resolute, continuing the trend of the previous quarter. This is according to a Manpower Employment Outlook survey, conducted quarterly to measure employers’ intentions as regards increasing or decreasing the number of employees in their workshops during the next quarter.
Employers in the east reported positive hiring intentions for the upcoming quarter with a net employment outlook (NEO) of +37 per cent.
The north, with the least optimistic hiring intentions, got +33 per cent.
Employers in the south and west reported strong hiring intentions of +44 per cent and +41 per cent, respectively, up from +31 per cent and +29 per cent last quarter.
Talking to FE over phone, Soumen Basu, executive chairman of Manpower India, said: “NEO for the eastern region is up 11 per cent from that of the last quarter (+26 per cent).”
NEO, a term used by Manpower India, is arrived at by taking the percentage of employers anticipating a total increase and subtracting from this the percentage expecting to see a decrease in the employment at their location in the next quarter.
“Robust hiring intentions across sectors is a reflection of businesses gaining momentum around this time of the year. The completion of appraisals in most Indian companies amplifies hiring activities, as workers are more willing to change jobs.”
“Of the 27 countries and territories surveyed globally this quarter, hiring intentions continue to be robust in India, with an overall NEO of +39 per cent,” said Basu.
The hiring intentions of employers in finance, insurance, real estate and services sectors showed the strongest increase (13 per cent).
Mining & Construction has shown the largest decrease in hiring activity (12 per cent). “This is more cyclical in nature as hiring would increase as investment goes up in infrastructure,” said Basu.
The transportation & utilities and wholesale & retail trade sectors both reported slight increases (1 per cent), while no change in outlook was reported in manufacturing.