New Delhi : According to the Manpower Employment Outlook Survey released today by ManpowerGroup, the survey of 5,089employers across India indicates that Indian employers report optimistic hiring intentions for the October-December timeframe.There is sentiment of optimism in India. The labour market outlook is bright and professionals are hoping for increased job opportunities. AG Rao, Group Managing Director of ManpowerGroup India said, “The hiring outlook reflects some signs of increased caution amongst employers as Indian companies gauge the impact of the ongoing global slowdown compounded by automation in the IT sector and talent scarcity. However, there will also be some gains in the high-skill jobs, as automation could create new positions too. However, the government’s focus remains clearly on creating jobs and ensuring that India becomes a manufacturing hub.
“In the current situation, companies do realize the need to embrace digital transformation and it is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of people and stay competitive. For gainful employment, job-seekers too need to continuously update and assess their skills to stay ahead of the curve in sync with the evolving economic trends,” added Mr. Rao.
Employers anticipate payroll gains in all seven industry sectors during the forthcoming quarter. The strongest labour market is expected in the Services sector, where the Net Employment Outlook stands at +39%. Brisk hiring activity is also forecast for the Wholesale & Retail Trade sector, with an Outlook of +37%, while Manufacturing sector employers expect a solid hiring pace, reporting an Outlook of +30%. Elsewhere, Outlooks of +28% and +26% are reported in the Finance, Insurance & Real Estate sector and the Transportation & Utilities sector, respectively. Meanwhile, Mining & Construction sector employers report the weakest Outlook of +20%.
Quarter-over-quarter, hiring intentions weaken in five of the seven industry sectors. The most noteworthy decline of 10 percentage points is reported by Transportation & Utilities sector employers. The Outlook for the Mining & Construction sector decreases by 8 percentage points and Finance, Insurance & Real Estate sector employers report a decline of 4 percentage points. However, hiring prospects improve in two sectors, including the Wholesale & Retail Trade sector, where employers report an increase of 7 percentage points.
When compared with 4Q 2015, hiring plans weaken by varying margins in all seven industry sectors. Considerable declines of 20 percentage points are reported in both the Public Administration & Education sector and the Transportation & Utilities sector, while Mining & Construction sector employers report a decrease of 19 percentage points. Elsewhere, the Outlook for the Finance, Insurance & Real Estate sector is 12 percentage points weaker while Manufacturing sector employers report a decrease of 11 percentage points.
India’s Regional Trends
Employers in all four regions expect to grow payrolls during 4Q 2016. The strongest Net Employment Outlook of +38% is reported by employers in the North. Elsewhere, employers in the West forecast a brisk hiring pace with an Outlook of +33%, while Outlooks of +30% and +22% are reported in the South and the East, respectively.Quarter-over-quarter, hiring prospects weaken by 3 and 2 percentage points in the East and the West, respectively. Meanwhile, employers in the South report relatively stable hiring plans, while the Outlook for the North report is unchanged.Year-over-year, Outlooks decline in all four regions. Employers in the East report the most notable decrease of 20 percentage points, while a decline of 11 percentage points is reported by employers in the South. Elsewhere, hiring prospects are 8 and 6 percentage points weaker for the West and the North, respectively.
Staffing levelsare expected to grow by varying degrees in 42 of 43 countries and territories through the end of the year. Only employers in Brazil expect payrolls to decline in the October-December time frame. Uncertainty associated with the slowdown of the global economy, the Brexit referendum and continued financial market volatility appears to have had little impact on employer hiring confidence. Slightly more than half of the forecasts strengthen by varying margins when compared to results reported three months ago, with hiring plans improving in 23 of 43 countries and territories, remaining unchanged in nine, and declining in 11. Outlooks improve in 21 countries and territories when compared with Quarter 4 2015, are unchanged in six, and decline in 15. Hiring confidence is strongest in India, Japan, Taiwan and the United States, while employers in Brazil, Belgium, Finland, Italy and Switzerland report the weakest hiring plans.In the Americas region, fourth-quarter workforce gains are expected in nine of 10 countries. However, employer confidence is mixed when compared to prior reports with forecasts improving by varying margins in five countries in comparison to the July-September period, declining in three and remaining unchanged in two.Employers in all 25 countries in the Europe, Middle East & Africa (EMEA) region expect some level of staffing level growth over the next three months. In a quarter-over-quarter comparison, forecasts improve in 12 countries, weaken in six and are unchanged in seven. When compared year-over-year, job prospects are expected to improve in 16 countries, decline in six and remain unchanged in two.
Job gains are expected in all eight countries and territories surveyed in the Asia Pacific region. Hiring plans improve in six countries & territories in comparison to Quarter 3 2016 and decline in only two. However, fourth-quarter forecasts weaken in four countries and territories when compared year-over-year, improve in three and are unchanged in one. China’s forecast improves slightly from three months ago, but employers here again report the region’s weakest fourth-quarter hiring plans.