Hiring activity in India is seeing a rebound, says the ManpowerGroup Employment Outlook Survey. The sectors which will lead the job market are likely to be the public administration and education followed by the services sector, the survey says.
This survey was conducted among 2,375 employers across India indicating a rebound in hiring plans for the upcoming three months. Here, the strongest hiring pace is recorded in the large-sized organizations followed by the medium sized organizations with a seasonally adjusted outlook of +10 percent which is an improvement of +3 percentage points as compared to the last quarter.
This outlook figure is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter.
From a regional perspective, west India indicates a more positive outlook followed by north India.
The ManpowerGroup further extended its survey to include the impact of COVID-19. Here, early 27 percent of employers reported that they may return to pre-COVID hiring within June 2021 while 56 percent stated they will resume by the end of 2021.
Sandeep Gulati, Group Managing Director of ManpowerGroup India said, “India remains resilient in the job market recovery post the pandemic. The new Budget announced also seems to provide the right impetus to opportunities in job creation especially in the public infrastructure, healthcare and BFSI. However, in all probability, the impact of the government spending on employment will be seen in Q3 & Q4, 2021 when the rubber meets the road.”
The survey says that workforce gains are expected in all seven industry sectors during the April to June period. The strongest labour market is anticipated in the public administration & education sector, where the Net Employment Outlook stands at +10 percent.
Services sector employers report a cautiously optimistic outlook of +9 percent. On the other hand, the outlooks stand at +6 percent in sectors like finance, insurance, real estate, manufacturing, transportation and utilities. Sector.
The mining & construction sector employers anticipate a modest hiring pace with an Outlook of +5 percent, while the weakest labour market is expected in the wholesale & retail trade sector where the outlook is +2 percent.
The ManpowerGroup Employment Outlook Survey surveys employers to measure their intentions to increase or decrease the number of employees in their workforce during the next quarter.