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The pace of hiring in India is expected to be slow across industry sectors in the fourth quarter of this year, says an employment outlook survey released by the Manpower’s Group on Tuesday.
The sectors, where hiring is likely to slow down, are public administration, education, transportation and utilities.
However, according to the survey, net employment outlook was positive across sectors and regions, with the number of employers who said they intended to hire in the fourth quarter outnumbering those who said they would reduce payrolls.
“The weaker hiring outlook reflects caution among employers as Indian companies gauge the impact of the ongoing global slowdown compounded by local governance issues and policy paralysis,” said Sanjay Pandit, Managing Director, ManpowerGroup India, in a release.
Region-wise data
According to the survey, jobseekers can expect the most opportunities in mining & construction sector (+38 per cent) and in the Northern region of the country.
The weakest fourth quarter hiring plans were reported by employers in the Eastern region. Steady hiring plans were reported in the South (+20 per cent) and West (+18 per cent).
The sectors likely to see brisk hiring include finance, insurance and real estate (+32 per cent), wholesale & retail trade (+27 per cent), manufacturing (+22 per cent) and services (+21 per cent), it says.
Global scenario
Globally, there was a mixed response from 66,000 employers across 42 countries, with those in 22 labour markets reporting improved or relatively stable hiring intentions compared with the third quarter.
However, the pace of hiring is expected to weaken in 26 markets compared to a year ago.
“If these uncertainties — the debt crisis in Europe, rumblings of a slowdown in China, the US presidential election and healthcare costs coming in that can’t be calculated — keep stacking up, we will see the global labour market’s slow, steady hiring mode shift to a pause,” said Jeffrey A. Joerres, Chairman and CEO of ManpowerGroup.
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