The pace of hiring in India is likely to slow noticeably in the fourth quarter of the calendar year, particularly in the public administration, education, transportation and utilities sectors as employers downshift from the vigorous hiring mode seen over the past two years.
According to the Manpower Employment Outlook Survey released by ManpowerGroup, employers plan to keep their workforces at current levels through the end of the year.
“Weaker hiring outlook reflects caution amongst employers as Indian companies gauge the impact of the ongoing global slowdown compounded by local governance issues and policy paralysis. Though Indian employers do not intend to shed staff, they are definitely planning to considerably downshift their hiring until they see more positive signals,”said Sanjay Pandit, managing director, ManpowerGroup India.
Job seekers can expect the most opportunities in the mining and construction sector and in the north region. The weakest fourth-quarter (calender year) hiring plans are reported by employers in the public administration/administration sector and the east region. In the public administration sector, employers report the least optimistic outlook since the survey began in 2005, said the survey.
In addition to the mining and construction sector, positive outlooks are reported by employers in all industry sectors. A brisk hiring pace is expected by employers in the finance, insurance & real estate sector and job seekers can also expect to benefit from solid hiring plans in the wholesale & retail trade.
The manufacturing sector outlook declines by 28 percentage points and a 21 percentage point decrease is reported in the wholesale and retail trade sector.
The net employment outlooks declined by substantial margins in all Indian regions both q-o-q and year-over-year. However, positive hiring intentions are reported in all, and steady hiring plans are still reported in the South and West regions, according to the survey.
Across the Europe, Middle East and Africa region, fourth-quarter hiring expectations are positive in 13 of 24 countries.