Mining and construction employers report the strongest hiring intentions with a net employment outlook of 12%.
India features among the top four countries in the world projecting a positive hiring trend for the three months of the July-September 2020 period. In a survey conducted by Manpower Group across 44 countries, employers forecast a bleak hiring trend for the three months of July-September 2020, with net employment outlook of 5%, which is the weakest in 15 years, but the second most positive hiring outlook across 44 countries. The other three countries projecting a positive hiring trend are Japan, China and Taiwan.
A survey of 695 employers across India showed that sectors which will lead the job market are likely to be the mining & construction, finance, insurance and real estate sectors. The strongest hiring pace will be recorded in the medium-sized organisations followed by the large sized and small-sized organisations. From a region perspective, the North and South regions indicate a more positive outlook compared to the West and East.
Mining and construction employers report the strongest hiring intentions with a net employment outlook of 12%. Respectable payroll gains are also forecast in the two sectors with outlooks of 9% in the finance, insurance and real estate sector and 6% in the public administration and education sector, the transportation and utilities sector and the wholesale and retail trade sector.
However, the most adversely impacted sectors are service and manufacturing, with indicated hiring intentions of 4% and 2%, respectively. This when compared to the previous quarter has a noteworthy decline of 9 and 7 percentage points, respectively.
A regional comparison of the trends show a stronger outlook in the North and South with net employment outlook of 5%, whereas West and East anticipate slower pace with the new employment outlook of 3%.