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Hiring likely to improve in next one year: Survey

business Updated: Jul 05, 2009 11:03 IST

PTI
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After witnessing a slowdown in the past year, the job prospects in the country are likely to improve in the next 12 months, a survey has said.

Besides, over 70 per cent of the recruitment agents surveyed believe that hiring will stabilise in the coming three months.

In a pan-Indian survey of recruitment agents by Edelweiss Securities, more than half (53 per cent) of the respondents said that the situation would improve over the next one year.

Moreover, the survey said that the outlook for the short term or three months will remain stable. "About 71 per cent respondents expect hiring to stabilise over the next three months," the survey stated.

It said that 69 per cent of the respondents believe the number of unemployed had increased in the past one year.

The survey, which took view of various sectors, found that all sectors, except IT, hope to see an improvement in hiring that is expected to support demand for residential real estate.

"A stabilising job market in the near term and a robust outlook beyond that, are expected to keep real estate market buoyant," the survey pointed out.

About 55 per cent of the respondents in Mumbai expect an improvement in the hiring space is likely in the next one year.

While in the Delhi-NCR region, as much as 57 per cent respondents think the job situation will improve in the coming 12-month period.

Interestingly, about 80 per cent of the recruitment agents in Bangalore expect recruitment to improve in the banking, financial services and insurance sector in the next one year, the survey stated.

Besides, the IT enabled services sector in Chennai is the most optimistic market with 80 per cent consultants expecting the situation to improve in the next one year, it pointed out.

Further, all consultants in the NCR region expect hiring in the ITeS segment to stabilise over the next one year.

In Bangalore, as much as 60 per cent consultants in the segments other than IT and BFSI, believe that hiring has increased in the past three months.

About 43 per cent of the respondents said unemployment has decreased in the past three months across the country.

Meanwhile, hiring in the IT sector is expected to remain week majority of the respondents in Chennai, Bangalore and NCR region expecting recruitments in the sector to remain stable in the next one year.