India's job market to remain vibrant, predicts study
The study says companies in the mining and construction sector would hire liberally in the first quarter of the coming year, reports M Rajendran.india Updated: Dec 12, 2006 19:59 IST
The job market in India will remain vibrant with companies in the mining and construction sector hiring liberally in the first quarter of the coming year, predicts the Manpower India Employment Outlook Survey for 2007, released on Tuesday.
Of the 4,742 employers surveyed in India, 41 per cent expected an increase in hiring activity in the first quarter of 2007, two per cent thought there would be a decrease, while 50 per cent did not expect any substantial change.The survey indicated a bullish sentiment in recruitment for the services sector but a fall in hiring in the insurance and real estate sectors.
Overall, the Net Employment Outlook was more than 39 per cent. Though this is a drop of three percentage points from the last quarter, on a year-on-year basis it represents an increase of 12 per cent.
Soumen Basu, executive chairman Manpower India said, "Hiring intentions are slightly more cautious compared to the previous quarter, but remain strong. Although the survey shows a 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 Global Employment Outlook Survey interviewed about 50,000 employers covering 27 countries to measure employment trends between January and March 2007. It revealed that employment prospects are strongest in Peru, Singapore, India, Argentina and South Africa. The weakest hiring activity is forecasted in Italy, Germany and France.