Mining & construction, finance, insurance, real estate to drive Q3 job market in India

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Published: June 9, 2020 5:25 PM

Wholesale & retail trade industry was affected the most as 88 per cent of them reported their businesses facing the brunt of the COVID-19-induced lockdown, a ManpowerGroup statement said.

Mining & construction,finance, insurance, real estate, Q3 job market in India, ManpowerGroup, employment outlook surveyGroup Managing Director of ManpowerGroup India, Sandeep Gulati said corporate India was rationalising its workforce in response to the economic slowdown.

Sectors expected to lead the job market in the third quarter (July-August-September 2020) of the current calendar year are mining & construction, finance, insurance and real estate, a survey of employers released on Tuesday said.

Those showing weakest trend are manufacturing and services, said the employment outlook survey of 695 employers across India by ManpowerGroup, which added that these employers indicated cautious hiring plans for the coming three months.

Wholesale & retail trade industry was affected the most as 88 per cent of them reported their businesses facing the brunt of the COVID-19-induced lockdown, a ManpowerGroup statement said. From a region perspective, North and South indicate a more positive hiring outlook compared to the West and East, it added. India features among the top four countries out of 44 that projected a positive hiring trend.

Group Managing Director of ManpowerGroup India, Sandeep Gulati said corporate India was rationalising its workforce in response to the economic slowdown. It is indeed a “wait and watch” game as organisations were gearing up for the post lockdown era where they anticipate an upsurge in demand, he said.

“India is optimistic and the Government’s stimulus economy package may boost the economic activities across sectors. The government does have its focus on the employment ratio of the country. Both these elements may bring a fresh ray of hope for the Job seekers before the end of this financial year,” Gulati said.

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