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Indian Job Market remains Vibrant
Indian employers continue to be among “the most optimistic” in the world on employment outlook for the second quarter of 2008. The net outlook has been pegged at 36 per cent, which represents a five percentage points increase over the same period last year but marks a decrease of six percentage points over the previous quarter.
Mining and construction has reported the strongest prospects among the seven sectors surveyed under the Manpower Employment Outlook.
“Of the 5,279 employers surveyed, 37 per cent expect an increase in staffing levels in the coming quarter, 54 per cent see no change, and just one per cent project a decrease,” according to a report released by Manpower Services India.
Employers in the public administration and education, and wholesale and retail trade sectors have projected the lowest outlook, but even that has been forecast at 31 per cent.
The wholesale and retail sector accounts for the steepest decline over the previous quarter, down by 10 percentage points. While the services sector expects a 40 per cent increase in staffing, the manufacturing sector projects a 33 per cent growth.
The south leads in the outlook, with employers in the region anticipating a 39 per cent increase in hiring, but this too is two percentage points lower than the previous quarter. The north has forecast a 36 per cent increase, down by five percentage points; the west will hire 35 per cent more personnel, marking an eight percentage point decrease over the last quarter.
Employment prospects in the east seem to be the weakest, with a projected growth of 26 per cent, which means a drop of nine percentage points.
This survey covered the sectors of finance, insurance and real estate; manufacturing; mining and construction; public administration and education; services; transportation and utilities; wholesale and retail trade.
In Asia Pacific, employers in Singapore emerge the most optimistic, with a net employment outlook of 60 per cent, followed by India with 36 per cent.
China reported the weakest forecast in the region for the third consecutive year, while the projections for Singapore, Hong Kong and Australia have been the most optimistic since the survey was launched in 2003. It covers 32 countries.
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