Employment outlook growth to witness 2% growth

Bangalore, July 17 (UNI) Employment outlook growth for the July- September quarter will witness a two per cent growth, with the financial services and infrastructure sectors reflecting maximum growth both in terms of hiring prospects and business outlook.

The TeamLease Employment Outlook report for the July-September quarter 2007 New Delhi suggested a positive trend in hiring, as well as in business at five per cent. Urban hiring would remain consistent at three per cent.

According to the report released here in Q4, companies intending to hire in marketing and IT function was high (above 20 per cent) among all the functions. Compared to all the four quarters, it was observed that there was an upward trend in hiring in administration and IT functions.

The report stated that IT continued to remain the major contributor of employment growth in Bangalore, Pune and Hyderabad, while ITES was the major contributor for New Delhi and Hyderabad.

Manufacturing and engineering sector was generating more employment in Chennai and Pune, while financial services did it in Mumbai and Kolkata.

While New Delhi had been consistently negative in its employment outlook growth, it had witnessed a sharp five per cent increase during this quarter.

According to the TeamLease report, in quarter four, most of the companies (95 per cent) had expressed considerable intention to hire at junior level. There was an increase in the number of companies, which had recruited middle level and a decrease in senior level.

According to TeamLease Services Pvt Ltd Vice-President Sampath Shetty, ''the financial services and infrastructure sectors have contributed towards positive business confidence, consistently over the last two quarters. New establishments being set up in the service and manufacturing sectors is a reflection of MNCs continuing to be bullish about the India story and the Indian consumer''.

He said the retail financial services would continue to contribute to the business outlook and the employment growth this quarter. ''We still see the challenge for Indian Corporate to bridge the manpower demand-supply shortfall to leverage Indian economy growth story'', he added.

UNI