Almost half of the employers expect increase in staff

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Better prospects

Optimism

shown reflective of the rapid pace at which economy is growing

Improved

hiring expectations reported in finance, insurance and real estate sectors

Entry

and growth of multinational banking and finance firms fuelled hiring activity

New Delhi, Sept. 12

The outlook for India's job market is "extremely buoyant" in the quarter to December 2006, especially in financial and real estate sectors, a survey by global staffing consultancy firm Manpower Inc has said.

Of the 4,732 employers surveyed in India, 45 per cent expected their headcount to increase while only 3 per cent saw a drop in staffing levels, it said. No change was expected by 41 per cent of the employers while the remaining 11 per cent were unsure of their hiring plans, the survey said.

Job opportunities

"The hiring intentions reported by employers across the sectors denote significant job opportunities and better prospects for Indian job seekers," Mr Jeffrey Joerres, Chairman and Chief Executive Officer of Manpower Inc, said in a statement.

The optimism shown by Indian employers is reflective of the rapid pace at which the Indian economy is growing, he added.

Employers in the finance, insurance and real estate sectors were most optimistic about increasing headcount, with nearly 50 per cent of the people interviewed across these sectors expecting the employment level to go up during the period. These sectors were closely followed by the services sector, where 45 per cent of the employers anticipated an increase in staffing levels.

"The improved hiring expectations reported in finance, insurance and real estate sector is consistent with heightened activity... Additionally, the entry and growth of multinational banking and finance firms in the subcontinent has fuelled hiring activity in this sector," said Mr Soumen Basu, Executive Chairman, Manpower India.

In India, the latest Survey was conducted across 30 cities in the month of August 2006.

(This article was published in the Business Line print edition dated September 13, 2006)
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