Hiring Outlook Rebounds Across Sectors; Services Industry Tops The Chart
Indian employers expect hiring to remain positive in October-December time frame but project a considerably slower pace compared to last year, according to a new ManpowerGroup Employment Outlook Survey.
The survey conducted on 5,005 employers indicates hiring outlook has rebounded slightly from the prior quarter. Once the data is adjusted to allow for seasonal variation, employers report an Outlook of +19 percent.
Employer hiring intentions remain positive in all seven sectors, primarily driven by Services, Transportation and Utilities, Wholesale and Retail Trade, and Public Administration and Education sectors.
Sectoral Trends
Employers in all seven industry sectors expect to add to payrolls during the coming quarter. The highest hiring prospects are reported in the Services sector, with a Net Employment Outlook of +23 percent, and in the Transportation & Utilities sector, with Outlook at +20 percent.
Upbeat hiring plans are evident in the Mining & Construction sector and the Public Administration & Education sector, where Outlooks stand at +19 percent and +18 percent, respectively, while the Outlook for the Wholesale & Retail Trade sector is +17 percent. Meanwhile, respectable workforce gains are likely in both the Manufacturing sector and the Finance, Insurance & Real Estate sector, according to employers who report Outlooks of +14 percent and +12 percent, respectively.
When compared with the previous quarter, Outlook strengthens in five of the seven industry sectors, most notably 8 percentage points in the Services sector. Mining & Construction sector employers report an improvement of 7 percentage points, while Outlooks increase by 4 and 3 percentage points in the Manufacturing sector and the Transportation & Utilities sector, respectively. However, employers in the Wholesale & Retail Trade sector report a slight decline of 2 percentage points.
Employers in all four regions forecast an increase in staffing levels during 4Q 2017. The strongest labor market is anticipated by employers in the North, who report a Net Employment Outlook of +27 percent. Elsewhere, employers expect favourable hiring pace in the South, reporting an Outlook of +20 percent, while respectable payroll gains are anticipated in the West, where the Outlook is +15 percent. Meanwhile, the most cautious regional Outlook of +7 percent is reported in the East.
