The Hindu Business Line : Ma Foi predicts cooling off quarter for jobs

MA FOI Employment Survey (MEtS) for July-September, the fourth in series, has predicted a relatively cooling off quarter for the country's job market, though its Employment Index (MEI) for the quarter has marginally increased to 1.39 per cent from 1.28 per cent in the previous quarter.

The MEI for first and second quarters had stood at 3.21 per cent and 3.35 per cent respectively.

MEtS is a quarterly study on Indian employment trends and opportunities conducted by Ma Foi Management Consultants Ltd. The study is considered the country's first and comprehensive one undertaken to understand the employment trends in the organised sector.

MEI measures the pace of recruitment activity and hiring needs of the employers and indicates the prospective net percentage growth in employment over the present levels.

The latest survey covered 2,092 employers across 17 industrial sectors, of which 95 were from the public sector while 1997 belonged to the private sector consisting of private and public limited companies. Altogether, these employers are looking at creating about 32,327 jobs during the quarter under review.

Announcing the details of the survey here on Tuesday, the Ma Foi Managing Director, Mr K. Pandia Rajan, said the latest survey predicts that hiring would continue to be top priority for India Inc across industries.

Of the latest MEI, the services part improved to 2.1 per cent from 1.65 per cent in the previous quarter, while the manufacturing part declined to 0.95 per cent (1.05 per cent).

According to Mr Rajan, "Services sector would be the growth engine for the quarter under consideration by topping the hiring activity. South India continues to lead the index with Karnataka and Bangalore as top State/City. Small and medium sized companies are bullish on hiring growth."

IT and ITES are back in spotlight as the top hirers, displacing telecom to the third place. Print media and entertainment, pharmaceuticals, transport and logistics, healthcare, textiles and garments and hospitality industry closely followed the list of top hirers, Mr Rajan said.

"New jobs are being created in the economy as a whole. Sectors other than IT and ITES, which are expanding consistently, include pharmaceuticals, telecom and transport and logistics. The maximum number of hiring has been projected from a mix of different sectors. Of the top 20 hirers, eight are from IT, three from ITES, two from banking, financial services and insurance (BFSI) and one each from telecom, manufacturing, chemical and allied, transport and logistics, retail, textiles and garments, pharmaceuticals and energy," he said.

The top five States for the quarter in terms of hiring include Karnataka, Tamil Nadu, Uttar Pradesh, Haryana and Andhra Pradesh, and the top five cities include Bangalore, Chennai, Delhi (National Capital Region), Hyderabad and Pune.

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