Job outlook drops 3% to 92% in H2 this fiscal: Report

PTI Mumbai | Updated on November 14, 2018

The overall hiring sentiment for the second half of this financial year has declined by 3 per cent to 92 per cent with persisting currency and oil pricing concerns in the country, according to a report.

It was 95 per cent in the preceding half-year (April-September 2018), according to TeamLease Employment Outlook report 2018-19.

The report surveyed 750 employers and 2,500 employees of small, medium and large companies across 19 sectors and 14 cities to understand the hiring sentiment in the country.

Energy sector

The continued, significant, growth in GDP failed to enthuse the job market for the forthcoming half of the year, the report noted. However, India has gained a bigger lead over global markets in the second half in terms of the percentage of employers (94 per cent) who report a possible increase in their hiring volume.

In India, the power and energy sector is expected to gain with 4 per cent growth in the hiring sentiment, over the past half-year, across the employers surveyed.

“Despite the growing GDP there has been a slight dip in the employment outlook in the next half year. However, sectors such as power and energy and financial services which have shown a surge in the employment outlook are a relief,” TeamLease Services co-founder and executive vice-president Rituparna Chakraborty said.

Tier III cities

She said, tier III cities which have shown improvement in the employment outlook is a testament that new avenues and job markets are opening up across India and, therefore, many opportunities will follow in the next half year.

Power and energy will add 33,100 new jobs, financial services will add another 44,650 new jobs and media and entertainment will add 46,300 new jobs in H2 FY18-19.

For the cities surveyed in the report Mumbai will add the highest number of jobs 1.66 lakh following by Delhi (1.55 lakh), Bangalore (1.52 lakh) and Hyderabad (96,000).

Published on November 14, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like