Manpower predicts dynamic Q4 employment prospects for India

New Delhi, Sep 11 (UNI) The Manpower Employment Outlook Survey released today revealed that the job market in India is expected to remain dynamic in the fourth quarter of 2007.

Of the 27 countries and territories surveyed globally this quarter, employer hiring intentions continue to be strong in India with an overall Net Employment Outlook of plus 47 per cent, a statement said.

This is the strongest outlook reported in India since the survey commenced in 2005, and represents an increase of eight percentage points quarter-over-quarter and a five percentage point increase year-over-year.

Employers in the services sector are notably optimistic about adding employees in the next three months.

Of the 4,922 employers surveyed, 49 per cent expect an increase in hiring activity in Q4 2007, two per cent anticipate a decrease, and 41 per cent are expecting no change.

The Net Employment Outlook is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location over the next quarter.

The quarterly survey by Manpower Inc is the world's most extensive forward-looking employment survey, with interviews of nearly 52,000 employers worldwide.

Employers in all eight countries and territories surveyed across the Asia Pacific region anticipate positive hiring activity for the fourth quarter.

Commenting on the survey findings, Soumen Basu, Executive Chairman of Manpower India said, ''With employers implementing business strategies and plans in full motion, hiring activity is projected to gain further momentum in this quarter.'' The optimism of Indian employers is reflective of the pace at which business throughout India is growing, he added.

The Manpower Employment Outlook Survey, conducted for the tenth consecutive quarter in India, reports that employers across all industry sectors are positive about adding to their workforces.

Employers in the services sector report the most optimistic Net Employment Outlook (+54 per cent) with manufacturing sector employers indicating relatively weaker hiring intentions with a still robust Net Employment Outlook of plus 40 per cent.

Hiring intentions in the Finance, Insurance and Real Estate sector are considerably stronger on a quarter-on-quarter basis with an increase of 17 percentage points and a Net Employment Outlook of plus 51 per cent.

The Net Employment Outlook in six out of the seven industry sectors has improved noticeably over the previous few quarters.

Mr Basu added that , ''the increased hiring in the services sector is a reflection of the role of this sector in India's GDP growth.'' The Outlook in the Public Administration and Education sectors (+43 per cent) has improved by 16 percentage points, while employers in the transport and utilities sector have reported an eight percentage point increase (+46 per cent) over the previous quarter.

Employers in the Wholesale and Retail Trade sector have reported an improvement of four percentage points in the Net Employment Outlook compared to the last quarter (+42 per cent).

The comparisons reveal a year-over-year increase of five percentage points in the Net Employment Outlook.

Of the seven industry sectors surveyed, only employers in the Manufacturing sector reported a decline in hiring activity [down one percentage point].

The greatest improvement was reported in the transportation and Utilities sector where the Outlook improved 17 percentage points.

Employers in all the other sectors report relatively stable hiring plans.

On the regional employment trend opportunities in India are expected to be positive in the months ahead.

Employers in the South of India are the most optimistic with a Net Employment Outlook of +50 per cent, which is an increase of six percentage points over the previous quarter.

Hiring intentions are weakest in the East, where the Net Employment Outlook is plus 33 per cent, which is four percentage points weaker than the previous quarter.

Employers in the North expect robust hiring activity in this quarter, with a considerable increase of 13 percentage points over the previous quarter.

Meanwhile, employers in the West report a Net Employment Outlook of plus 47 per cent, a moderate increase of six percentage points as compared to the previous quarter.

On the Global front, the survey revealed that fourth-quarter hiring is expected to be positive in 26 of the 27 countries and territories surveyed, with employers in Japan, Germany, Sweden, Australia, Costa Rica, Peru as well as India reporting their most optimistic hiring plans since they began the survey.

In addition to India, the strongest fourth-quarter hiring prospects reported globally were in Peru, Singapore, Argentina, Costa Rica, Japan, Australia, New Zealand, South Africa and Hong Kong.

Conversely, only employers in Italy reported the weakest Outlook of all 27 countries and territories surveyed..

The Manpower Employment Outlook Survey is conducted quarterly to measure employers' intentions to increase or decrease the number of employees in their workforce during the next quarter.

UNI