India’s job market is bearing the brunt of a slowdown in the broader economy. The hiring environment continues to be weak in all major sectors, with too much improvement unlikely in the coming quarters, surveys by leading headhunters have found.
India’s net employment outlook — an indicator of recruitment intentions — stood at 18% for the third quarter (July-September) of 2013 against a year ago, according to a Manpower Employment Outlook Survey of 5,265 staff.
"Though employers expect positive hiring activity during the third quarter, the numbers will be weaker compared to the year-ago period," said AG Rao, managing director, Manpower Group, India.
IT, healthcare, financial services and pharma are the sectors hiring most, the survey has found.
Findings by job portal Naukri.com also observed a fall in hiring activity on a month-on-month basis — a 4% fall in May compared to April.
"Employers seem to be following a cautious approach now," said Ambarish Raghuvanshi, chief financial officer, Info Edge, company which owns Naukri.com.
Findings by Monster.com, however, offer hope. The portal, which tracks online job posting activity on a monthly basis, reported growth in hiring activity of 5% in May compared to April.