The prospects for the third quarter indicate that hiring tendencies are the strongest in the services sector.
NEW DELHI: Looking for a job? The next three months could offer you the best chance of being hired.
The hiring intentions of Indian employers for the third quarter of 2006 are the best in five quarters.
In fact, Indian employers have the strongest recruitment plans among counterparts in 25 countries worldwide. China has the weakest hiring intentions, according to an employment outlook survey conducted by Manpower Inc.
On Monday, the government’s economic census for the seven-year period up to 2005 told us that off-farm jobs grew faster than the workforce. The Manpower survey reports that job prospects in key industry sectors are looking better since 2005’s second quarter.
The prospects for the third quarter indicate that hiring tendencies are the strongest in the services sector. Transport and utilities are also showing the maximum year-on-year increase.
As many as 4,550 employers were surveyed in India for their hiring intentions in the July-September quarter. Of these, 46 per cent expected their staffing levels to increase while only 3 per cent anticipated a decline (41 per cent expected no change and 10 per cent were unsure of their plans).
That made up what the survey called an overall net employment outlook (NEO) of 43 per cent, the highest among 25 countries. Hong Kong was second at 27 per cent and Japan followed at 24.
The NEO in India for the third quarter of 2006 demonstrates an increase of three percentage points over the previous quarter and nine percentage points on a year-on-year basis.
“Indian employers are again forecasting the strongest hiring plans of the 25 countries and territories surveyed this quarter, which is reflective of the incremental growth visible across sectors in the country over the past year,” said Manpower India chairman Soumen Basu. “In fact, the year-over-year increase in NEO in the transport and utilities sector is a clear indication of the enormous thrust being put forth towards development and infrastructure in the country.”
The NEO for the services sector is a bullish 50 per cent, the strongest reported in any sector in India since the survey started in India for the second quarter of 2005.
The third quarter hiring is expected to be positive in 23 of the 25 countries surveyed, with employers in India, Japan, Hong Kong, Ireland and Belgium reporting their most optimistic hiring plans to date.
The labour market continues to cool in China with employers reporting their weakest hiring plans since the survey began there.
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