Two per cent employment outlook growth anticipated in July-Sept '07

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 a maximum growth both in terms of hiring prospects and business outlook.

According to the TeamLease Employment Outlook report for the quarter July-Sept 2007 New Delhi, which had witnessed a downturn over the last three quarters, suggested a positive trend in hiring as well as business at 5 per cent this quarter. Urban hiring remains consistent at 3 three per cent.

According to the report released here in Quarter four, companies having intention to hire in Marketing and IT function was high (above 20 per cent) among all the functions. While comparing to all the four quarters, it was observed that there was an upward trend in intending to hire 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 wa the major contributor for New Delhi and Hyderabad.

Manufacturing and Engineering sector was seeing major employment growth in Chennai and Pune and Financial Services in Mumbai and Kolkata.

While New Delhi had been consistently negative in its employment outlook growth, it had witnessed a sharp 5 per cent increase this quarter.

According to the TeamLease report, in quarter four, most of the companies (95 per cent) have expressed considerable intention to hire at Junior level. There was an increase in the companies intending to recruit from middle level and a decrease in senior level.

According to Sampath Shetty, Vice President, TeamLease Services Pvt Ltd, ''The financial services and infrastructure sectors have contributed towards the positive business confidence consistently over the last two quarters. With 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. The Indian Outsourcing industry broadening their spectrum with new verticals and services has turned favorable in the Delhi NCR region for employment growth''.

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 this Indian economy growth story'', he added.

UNI