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India rated best for new jobs next year

world Updated: Dec 16, 2010 17:18 IST

India has pulled ahead of China to take first place in the Forbes list of best countries for new jobs next year, with a whopping 42% net hiring outlook for the first quarter of 2011.

China follows close behind at 40%, a 2% decrease from last quarter. Taiwan comes in third, with a net employment outlook of 37%, the US business magazine reported based on latest global employment outlook survey by the staffing firm Manpower.

The net hiring outlook is the number of employers surveyed who expect to increase their employment rolls minus the percentage who expect to decrease them.

"The results are striking, if not surprising," Forbes said referring to "that unbelievable job growth" reflected in the survey of 64,000 human resource directors and senior hiring managers from public and private companies worldwide.

Brazil rates fourth on the tally of the nations with the greatest optimism with a net hiring outlook 36%, driven by a 7% gross domestic product growth rate, three times higher than in the US.

Next in line after Brazil is Turkey, with a net hiring outlook of 27% followed by Singapore at 26%.

The countries rounding out the list include Peru, Costa Rica and Argentina as well as Australia and Hong Kong.

"How does the US rate? Better than you might expect," Forbes said noting it has a 9% net hiring outlook.

The survey shows that almost half, 47% of them, of expectations for hiring in the first quarter of 2011 came from 10 countries in the Americas, 24% from eight countries in Asia and the Pacific, and 29% from Europe, the Middle East and Africa.

"This is very much a macro-economic look at new job creation," the staffing firm's chairman and chief executive, Jeffrey Joerres, was cited as saying.