The Manpower Employment Outlook Survey for the first quarter of 2007 revealed that the job market in India is expected to remain extremely vibrant. Of the 27 countries and territories surveyed globally this quarter, the hiring intentions continue to be strong in India with an overall Net Employment Outlook of over 39%.
This represents a slight decrease over the last quarter by 3 percentage points, but is a considerable year-over-year increase of 12 percentage points. Of the 4,742 employers surveyed, 41% expect an increase in hiring activity in the first quarter of 2007, 2% anticipate a decrease, and 50% are expecting no change. The Net Employment Outlook 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.
Commenting on the survey findings, Soumen Basu, Executive Chairman, Manpower India said, “Hiring intentions are slightly more cautious in comparison to the previous quarter, but remain strong. Although the survey shows significant hiring activity across all industry sectors, the Mining and Construction sector employers report the strongest hiring intentions, thus emphasising the importance of skilled labour in this domain.”
The Manpower Employment Outlook Survey, conducted for the seventh consecutive quarter in India, shows that employers in the country remain positive. In the Mining and Construction sector (+44%), the Outlook has improved 5 percentage points from Q4 2006 and 23 percentage points from Q1 2006. The Services sector employers also report a bullish Net Employment Outlook at +43%. This represents a slight decrease over the previous quarter by 2 percentage points, but is a considerable year-over-year increase of 13 percentage points. The Finance, Insurance and Real Estate sector has shown a fall in employer hiring intentions by 11 percentage points over the previous quarter, with a reported Net Employment Outlook of +39%.
The Manpower Employment Outlook Survey conducted in India includes employers in seven industry sectors, namely Finance, Insurance, Real Estate; Manufacturing; Mining & Construction; Public Administration & Education; Services; Transportation & Utilities; Wholesale & Retail Trade.