News: Organized sector to create 16 lakh jobs this year

#Updates

Organized sector to create 16 lakh jobs this year

The latest Employment Trends Survey from Ma Foi Randstand shows that most employers are optimistic about their hiring plans for 2012 and all sectors have indicated positive growth outlook. As per the report, an estimated 16 lakh new jobs could be created in the country's organized sector. The findings are based on a survey of 639 companies across 13 industry sectors in eight major Indian cities. According to the report, health care, hospitality IT/ITES, non-machinery manufacturing, media & entertainment are most optimistic about hiring activities.

Health care is projected to generate over 2.73 lakh jobs, followed by hospitality (over 2.30 lakh) and IT/ITES (more than 2.27 lakh). Among other sectors, manufacturing (non-machinery products such as food and beverages, basic metal, fabricated metal, textiles, wood products, chemicals and rubber) is expected to create more than 1.63 lakh jobs, while media and entertainment is expected to generate over 1.62 lakh jobs this year. Real Estate & Construction is also likely to create over 1.32 lakh jobs in 2012. Inflation and weakening rupee can potentially dampen investor confidence which may result in cautious hiring in the first quarter. However, the trend will improve in subsequent quarters provided the economy improves.

Source: The Economic Times 

Topics: Updates, Jobs, Talent Acquisition

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