Indian employers, about 5,109 of whom were interviewed during the survey, reported the most optimistic forecast for the first quarter of 2010. With 38 per cent of employers anticipating an increase in headcount, just 2 per cent expecting a decrease and 53 per cent predicting no change, the resulting Net Employment Outlook stands at +39 per cent. Many of the world’s labour markets are also showing signs of recovery in first Quarter of 2010. Hiring in the next three months is expected to return to the pre-recession pace throughout much of the Asia pacific region, while job prospects continue to slowly improve in the Americas and in some of Europe. Employers in 25 of the 35 countries and territories surveyed are reporting positive hiring intentions for the first quarter. “Hiring expectations in India continue to be optimistic.
As Indian employers continue to express growing confidence, we are witnessing improved opportunities for job seekers across all industry sectors. Employers indicate that hiring in India’s Services sector will accelerate at a dynamic pace in the months ahead,” said Dr. Naresh Malhan, Managing Director of Manpower India.
The survey of almost 5,109 employers across 30 cities in India indicates that at +39%, the Net Employment Outlook in Q1 2010 compares favourably to other major labour markets, including Australia at +19%, Canada at +13%, China at +11%, and the United States at 6%. The most optimistic employment forecasts after India are reported by employers in Brazil, Singapore, Taiwan and Australia. Regarding the survey, Dr. Malhan said, “India has been reporting the strongest hiring expectations globally since the Quarter 3 2008. The good news is that employer hiring expectations across all industry sectors are improving in the first quarter of 2010, and job seekers in key industry sectors can look forward to the most favourable hiring environment in over a year. Hiring optimism is strongest among employers in the Services Sector (+47%) The sector Outlook is 20 percentage points stronger quarter-over-quarter and improves by 23 percentage points year-over-year. We are also witnessing stronger hiring trends in all regions in India. Employers in the North region are the most optimistic about adding employees; their Outlook stands at +44%, and is 16 percentage points stronger quarter-over-quarter and 24 percentage points stronger year-over-year.”
Employers in the Finance, Insurance & Real Estate sector also report a notable 16 percentage point improvement in Net Employment Outlook over last quarter. The softest hiring pace in India is reported by employers in the Transportation & Utilities (+28%) industry sector, although employer optimism still improves by 4 and a considerable 11 percentage points quarter-over-quarter and year-over-year, respectively. Employers in the Manufacturing (+33%) industry sector are also reporting substantial improvements in their quarter-over-quarter and year-over-year Outlook, respectively.
Year-over-Year:
When compared to Q1 09, employers in all seven industry sectors anticipate a stronger hiring pace in the first quarter of 2010. Sharp improvements are reported by employers in the Public Administration & Education sector and the Services sector, followed by employers in the Wholesale & Retail trade sector.
Regional Trends
Employers in all four regions in India expect hiring activity to improve considerably over the next three months in both quarter-over-quarter and year-over-year comparison. Employers in the North (+44%), West(+40) and East (+40%) regions report the country’s strongest hiring expectations. The Outlook in the North improves 16 percentage points quarter-over-quarter and 24 percentage points year-over-year. The forecast in West is 13 percentage points stronger quarter-over-quarter and 20 percentage points year-over-year. Similarly, the Outlook in East is stronger by 8 percentage points quarter-over-quarter and by 10 percentage points year-over-year. Employer hiring intentions in the South (+36%) have also improved by 9 percentage points quarter-over-quarter and 10 percentage points year-over-year.
Global Results
The Manpower survey shows employers in 25 of 35 countries and territories surveyed expect some positive hiring activity in the first quarter, while those reporting negative hiring expectations decreased from 15 three months ago to nine for the first quarter of 2010. However, employers in Belgium, the Czech Republic, Hungary, the Netherlands, Poland and Romania are reporting their weakest hiring plans to date. Employers in 19 countries and territories are reporting stronger year-over-year outlooks. First-quarter hiring plans are strongest in India, Brazil, Singapore, Taiwan, Costa Rica, Australia, Peru and Hong Kong and weakest in Ireland, Romania and Spain.
Of the 18 countries surveyed in the Europe, Middle East and Africa (EMEA) region, hiring expectations are mixed with employers in nine countries reporting positive hiring activity for the quarter ahead. Compared to three months ago, outlooks improved in nine EMEA countries and in eight where year-over-year comparisons can be made. Hiring activity in the region is expected to be strongest in Norway, Sweden and Germany.
“Last quarter employers from only three European countries were reporting positive hiring activity and while we haven’t reached an inflection point yet, today there are eight countries indicating a more positive trend,” said Joerres. “Europe most likely will experience only incremental improvements until consumer demand becomes more robust. Germany is one of the region’s bright spots, fueled partly by optimism in the Finance and Business Services sector where 16 percent of employers tell us they will add employees in the first three months of the year.”
In the Asia Pacific region, hiring plans are strongest in India, Singapore, Taiwan and Australia, with the weakest and only negative outlook again reported in Japan. Job prospects improve quarter-over-quarter in all eight countries and territories with the most notable gains seen in Australia, India and New Zealand. Year-over-year comparisons also reveal stronger hiring plans in all countries and territories except Japan. “Manufacturing expectations are boosting optimism throughout the region with outlooks in this sector improving in every country and territory from both three months ago and last year at this time. Meanwhile, Indian employers in the Services sector are pressing the hiring accelerator again in anticipation of their contract pipelines firming up – 10 percent more expect to add employees in the next three months,” said Joerres. “In stark contrast, Japanese employers remain reluctant to hire. This is bad news for job seekers in the months ahead, especially in the Transportation and Utilities sector where 24 percent of employers are telling us they will reduce staff.”
Of the nine countries surveyed in the Americas region, hiring expectations have improved somewhat from three months ago in all countries with the exception Colombia. However, year-over-year comparisons remain mixed, with the most notable improvement reported by Mexican employers. Regional hiring plans are strongest in Brazil, Costa Rica and Peru
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Last Updated on Saturday, 13 February 2010 13:59.
A bunch of passionate musicians who listen to their heart and soul. Here is a story that unravels the happiness of being in sync with your heart. All of us, at some point of time in our lives, have had the opportunity to connect with our inner souls. Be it those testing times when life seems so low, or the beautiful moments when we feel on top of the world – there are many of those precious moments when our inner voice resonates and tends to blend with the outside world.