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India Inc most optimistic about hiring prospects in Q3
By agencies
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Wednesday, 15 June 2005, 19:30 IST
NEW DELHI: Indian employers are the most optimistic among 23 countries about hiring activity in their companies during the third quarter of 2005, according to a survey by global staffing firm Manpower Inc.
The Manpower Employment Outlook Survey, conducted in India for the first time, showed that as many as 41 percent of the 2,488 employers surveyed across seven sectors in the country expected to hire more people during July-September 2005, while seven percent expected to reduce their workforce.
India's overall net employment outlook, therefore, stood at 34 percent, much ahead of China at 13 percent, U.S. 25 percent, U.K. 12 percent and Japan 14 percent.
The survey covered seven sectors - finance, insurance and real estate; manufacturing; mining and construction; public administration and education; services including IT and ITeS; transport and utilities; wholesale and retail trade.
In India, the survey was conducted across 24 cities during April 2005. Of the total 2,488 respondents, 44 percent had no intention of increasing their workforce, Manpower Services India Pvt Ltd executive chairman, Soumen Basu said.
According to the survey, services and finance sectors anticipate a booming third quarter with net employment outlook at 44 percent and 41 percent respectively. Employers in transport sector expect the least hiring where the outlook of 17 percent was anticipated, Basu said.