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Employer confidence at lowest since 2005, hiring to be steady in 3 months

Amid uncertain global markets, employers are adopting a wait-and-watch policy

Press Trust of India  |  New Delhi 

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Indian employers expect steady outlook for next three months, but their confidence has dipped to the least optimistic level since 2005 amid uncertainties in global markets, says a report.

Globally, the strongest third-quarter plans were reported in Japan, Taiwan, Hungary, while was ranked at the seventh place with a net outlook of just 14 per cent.

"In the wake of uncertainties in global markets, employers in are adopting a wait-and-watch policy. This is probably the reason we are not seeing them commit to the same optimistic plans," ManpowerGroup Group Managing Director A G Rao said.

The survey of 4,910 employers across indicated that the activity is expected to slow for the sixth consecutive quarter.

Rao noted that has restructured the way the world functions and organisations are embracing these technologies based on changing business requirements.

"It is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of their employees and stay competitive in an increasingly volatile economy," Rao said.

Sectorwise, is primarily driven by sectors such as wholesale and retail trade, transportation, utilities and services where employer sentiment appears to be better.

The most cautious outlook for the next three months was reported by manufacturing, finance, insurance and real estate and mining and construction sectors.

The strongest market is forecast in the south, where the net outlook stood at 21 per cent. Employers in the north reported steady intentions with an outlook of 15 per cent, while outlooks of 10 per cent and 9 per cent were reported in the west and the east, respectively.

Meanwhile, an overview of the global results indicated that employer confidence is similar to that reported in the second quarter with the majority of respondents' content to either retain current staff or grow payrolls marginally as they await more definitive signals from the marketplace, the report added.

First Published: Tue, June 13 2017. 13:36 IST