Indian Companies Forecast to Create 1 Million Jobs
Mar. 11 – Indian companies are expected to resume hiring from April to June with the organized sector forecast to create one million jobs by 2011 backed by the strength of the improving economy according to two global employment trend surveys.
According to the Employment Outlook Survey compiled by the human resources consulting firm Manpower, two in every five Indian companies plan to hire more people in the second quarter of the year. Another survey by human resources services provider Ma Foi Management Consultants said that polled companies were upbeat about their prospects for 2011 although most are still cautious about the coming second quarter.
The Manpower study covering 5,300 employers in 30 cities put India’s net employment outlook (NEO) at 39 for the second quarter of the year, an increase of four percentage points from the previous quarter.
The services sector showed the most promising hiring trends with an NEO of 48 percent compared to the finance, insurance, real estate industries registered an NEO of 41, an increase of 4 percentage points.
Hiring trends are expected to be lower in the transportation and utilities industry with only an NEO of 28 percent. Those in the manufacturing sector reported an NEO of 38 percent, a marked improvement from their previous hiring outlook. Public administration, education and wholesale trade and retail sector also reported positive hiring outlook at 32.
In terms of regional hiring in India, companies located in the East had a 42 percent hiring expectation in comparison to the West at 40 percent and South at 40 percent.
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