Source | economictimes.indiatimes.com | Sreeradha D Basu, ET Bureau
Job creation is likely to see a strong boost in the upcoming September quarter, with employers reporting the most optimistic hiring outlook in eight years, as companies look to speed up the post-pandemic recovery process and sustain growth, despite rising inflation.
According to the ManpowerGroup Employment Outlook Survey, shared exclusively with ET, about 63% of 3,080 employers said they will hire more in the coming quarter, while 12% see decrease in hiring intent and 24% expect to keep workforce levels steady. Only 1% were unsure about hiring intentions. This puts net employment outlook – the difference between companies looking to hire and those expecting a fall in headcount or hiring numbers – at 51%.
When compared with the same period last year, hiring sentiment has improved by 46 percentage points. There is a 13-pp growth from the preceding quarter. Hiring markets in India are ranked first in the region and third globally. India’s on-year increase is ranked first globally, outperforming the 40-country average increase since the third quarter of 2021 by 28 points.
“Overall, there has been an optimistic outlook across sectors and industries,” said Sandeep Gulati, managing director, ManpowerGroup India. “As always, the IT-ITeS sector is taking the lead in job market growth. Digitisation and automation are driving the need for IT specialists across the board.”