Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • BW TV
  • Subscribe to Print
BW Businessworld

Jobs Outlook Brightens In India

Photo Credit :

In stark contrast to the fears of economic slowdown hurting the country's labour market, two separate job market surveys on Tuesday suggested an improving employment scenario and predicted robust hiring activities for the new year -- which could be the best in the world.

Painting an optimistic picture, global HR firm Manpower said in its quarterly job market report that Indian employers are the most bullish globally when it comes to hiring, with robust recruitment plans for the next three months -- the first quarter of the new year 2012.

In a separate monthly report, job portal Naukri.com said that hiring activities surged in November across all sectors.

Against the backdrop of contraction in industrial output and gloomy economic growth prospects,  concerns are rising that such situation could seriously hurt employment in the country.

According to Manpower, Indian employers have reported the most optimistic hiring intentions among the 41 countries and territories where its survey is conducted.

The Manpower Employment Outlook Survey revealed the outlook has improved in six out of seven industry sectors for the March, 2012, quarter, compared to previous three months.

As per the report, the services sector (+49 per cent) and mining and construction sector (+47 per cent) present the brightest hiring opportunities for job seekers in the next three months.

Meanwhile, the monthly Naukri Job Speak index -- an indicator of online job demand -- showed that hiring activities moved up across all sectors last month from the levels seen in October,  signalling a "seasonal spike".

Expressing concerns over declining industrial output, industry body Confederation of Indian Industry (CII) on Monday said that any further contraction "would have serious consequences on employment and livelihoods." .

Weaker Job Prospects In Major Economies
Europe's debt crisis is leading to weaker job prospects in most major economies, including China, as Europe's debt crisis adds to employers' uncertainty, but the US labor picture has brightened, according to a quarterly survey by ManpowerGroup.

The global staffing services company said job seekers in 30 of 41 countries and territories can expect a slower pace of hiring in the first quarter than in the fourth. The hiring outlook is also weaker year-over-year in 23 countries and territories.

"Debt issues in Europe continue to create uncertainty," Manpower Chief Executive Jeff Joerres said, adding that hiring plans in China have slowed in part because Europe is China's biggest export market.

The hiring outlook dipped from the fourth quarter in nearly every European economy Manpower polls, with a few exceptions including Italy and the Netherlands. In Spain and Greece, the net employment outlook is negative, meaning more employers expect to cut jobs than to add them.

Job prospects in France and Germany softened from the fourth quarter, but remain positive,  Manpower's survey of 65,000 hiring managers found. The German finance and business services sectors report the strongest demand for staff in that economy.

India and Japan were the only Asian economies where hiring prospects are expected to improve next quarter. Japan's mining and construction sectors show the strongest outlook as the country recovers from a devastating March earthquake.

Chinese employers, by contrast, are the least optimistic in two years, both because of softer export markets and because of government efforts to cool the economy. Their counterparts in Singapore, Taiwan and Singapore are less optimistic both year-over-year and quarter-on-quarter.

Milwaukee-based Manpower does business in more than 80 countries and territories and generates most of its sales and profit outside the United States. Its quarterly survey is considered a leading indicator of labor market trends, used by economists, the European Commission and the
Bank of England.

Improved US Outlook
All three countries in North America reported stronger jobs outlooks compared with the fourth quarter.

The seasonally-adjusted US net employment outlook -- which measures the difference between employers who say they expect to add jobs and those planning to cut them -- was plus-9, up from plus-7 in the fourth quarter and plus-8 a year ago.

The US leisure and hospitality sector expects to add workers. Construction employers, however,  expect lower employment levels for the third consecutive quarter.

Manpower's US survey dates back to 1962 and is based on interviews with 18,000 employers. It is considered a leading indicator of labor market trends.

The survey follows a US government report that showed 120,000 jobs added outside the farm sector in November and the US unemployment rate unexpectedly dropping to 8.6 per cent. Jobless claims at the lowest level in nine months also provided evidence the US labor market was
gradually on the mend.

(Agencies)