According to Manpower Employment Outlook, India’s employment outlook is the weakest in more than 3 years and Indian employers are set to slow the pace of hiring in the Oct-Dec quarter, as majority of them plan to keep the workforce at current levels on account of sagging global economy and subdued reforms on the domestic front. The employment outlook report states employers are downshifting from the vigorous hiring pace seen over the past 2 years, with just 27 percent employers optimistic about strengthening their workforce.
The employment outlook report also states that region- wise, hiring plans in all four zones of India, and all seven industry sectors will weaken by varying degrees for the coming quarter. However, outlook still remains in the positive territory in all industry sectors and all regions. In fact, the report states that a brisk hiring pace is expected by employers in the finance, insurance and real estate sectors (32 percent), and job seekers can also expect to benefit from solid hiring plans in the wholesale and retail trade (27 percent), manufacturing (22 percent) and the services (21 percent) sectors.