Public administration and education sector have witnessed the strongest labour market, where the net employment outlook stands at 27 per cent.
Despite the ongoing economic slowdown, companies in India are optimistic about generating more jobs in the near-term. India has ranked fourth-highest globally in the strongest sentiment for hiring in the fourth quarter of 2019, according to the ManpowerGroup Employment Outlook Survey. One-fifth of employers surveyed in India believe that there will be significant hiring in the forthcoming quarter. The top three countries ahead of India in the hiring sentiment are Japan, Taiwan, and the US. Within India, the strongest labor market is anticipated in the eastern parts, where the net employment outlook is 38 per cent, that reflects robust hiring prospects. In the southern, northern and the western parts, the outlook is 19 per cent, 16 per cent and 18 per cent, respectively.
The employers in India expect to increase payrolls across all the organisation during the forthcoming quarter. Employers of the medium-sized firms report the strongest hiring intentions with a net employment outlook of 23 per cent. Medium employers have reported a significant improvement of 10 per cent over the previous quarter. However, employers of smaller organisations have reported a slight decline of 3 per cent.
Public administration and education sector have witnessed the strongest labour market, where the net employment outlook stands at 27 per cent. Hiring plans in the wholesale and retail trade sector and the services sector have also been reported optimistic. In the other sectors like the manufacturing sector and in the finance, insurance, and real estate sector, the employers expect steady hiring activity in the coming quarter. The weakest outlook has been reported in the transportation and utilities sector.
The survey by the ManpowerGroup has been based on the interviews of over 59,000 employers in 44 countries and territories, including 5,131 employers in India, to forecast labor market activity. Worldwide, Spain stands at the last position, where none of the employers anticipate any hiring in the forthcoming quarter.