Indian employers most optimistic on hiring

  MUMBAI: Finally, there is good news for Indian jobseekers as employers are expected to show a positive hiring intent in the upcoming quarter as compared to the last quarter. In effect, Indian employers are the most optimistic on hiring in the fourth quarter anywhere in the world, says an employment survey released by a recruitment firm. While 41% of employers expect payrolls to increase, only 1% forecast a decrease while 48% anticipate no change, resulting in a net employment outlook of 40%, Manpower Group said on Tuesday. Employers reported a considerable outlook improvement of 14% when compared to the previous quarter while hiring intention was 22% stronger when compared to the corresponding period last year, the survey said. India's fourth-quarter hiring plans are the most optimistic across the globe and represent a dramatic turnaround in employer confidence following four consecutive quarters of relatively lackluster forecast, the employment outlook survey, which mapped 5,059 employers across the country, said. The job market has slowed down considerably over the past few quarters on the back of negative sentiments emanating from macro economic factors. The slide of the rupee against the dollar, rising inflation and a widening current account deficit have seen foreign investors shy away from India just like many other emerging markets. "The situation looks more promising with the recovery made by IT firms and allied companies. There is a big opportunity for the e-commerce sector to add more jobs to the labour market," said A G Rao, group MD at Manpower Group India. Once the data is adjusted to allow for seasonal variation, the outlook stands at 41%. Hiring intentions improved both quarter-on-quarter and year-on-year, by 16% and 22%, respectively. As far as the global markets go, the job situation is expected to remain mostly positive with employers in 29 of the 42 countries reporting they plan to boost payrolls by varying degrees during the fourth quarter. This compares with positive hiring intentions reported by employers in 32 of 42 countries and territories during the July-September time frame, the survey said. Worldwide, hiring expectations are strongest in India, Taiwan, Panama, Singapore and Brazil. The weakest opportunities for job seekers are expected in Italy, Spain and Finland. Employers in all four regions forecast an increase in staffing levels during the fourth quarter, Manpower said. The most optimistic hiring plans are reported in the north with a net employment outlook of 52%. When compared with the previous quarter, hiring prospects are likely to improve in all seven industry sectors that were surveyed. The most noteworthy outlook increase came at 25% for mining and construction sectors, the survey said.   TOI