India continues to report the highest labour hiring expectations globally since the third quarter of 2008, according to a new survey.
In the third quarter (July-September) of 2009, job seekers around the globe can expect more of the same sluggish hiring pace seen during the first half of the year. But, in countries like India, a greater percentage of employers are saying they will hold on to the staff they have, according to the latest global Manpower Employment Outlook Survey.
Employers in 11 of the 34 countries surveyed expect some positive hiring activity in the coming quarter, but those in 22 are forecasting a negative outlook, with 17 reporting their weakest hiring plans since the survey was established.
Although weaker than historical patterns, third-quarter hiring plans are strongest in India, Norway, Poland, Peru, Singapore and Taiwan and weakest in Ireland, Spain, Greece, Romania, Italy, Japan and the UK. Moreover, across the eight countries and territories surveyed in the Asia-Pacific region, employment prospects remain soft. But employers in India, China and Japan, despite reporting their weakest hiring plans since the surveys were established in these countries, top others.
In India, around 19 per cent employers have positive recruitment plans for the next three months. This is also known as the Net Employment Outlook, which is based on the difference between those who plan to add jobs and those who expect to cut them. This outlook, however, fell six percentage points sequentially (compared to the trailing quarter) and 24 percentage points year-on-year.
“India has been reporting the highest labour hiring expectations globally since the third quarter of 2008. Thus, despite a fall in the Net Employment Outlook, the Indian labour market has handled the global economic slowdown much better than other emerging and developed economies globally,” Manpower India’s Managing Director Naresh Malhan said.
Moreover, the report revealed that hiring forecast in the public administration and education sector stood at 33 per cent, an increase of eight percentage points from the same period last year. Region-wise, North reported the sharpest decline of 39 percentage points, followed by a 30 percentage point weaker outlook in West, a 10 point fall in the East and a two percentage point fall in the South, which remains the most optimistic for next three months. “In our second quarter report, the Indian labour market showed signs of resilience, but employers there are now much more uncertain about adding employees. In India’s key services sector, 11 per cent of employers are telling us they will reduce staff in response to weaker demand from offshore clients,” Manpower Inc’s Chairman and CEO Jeffrey A Joerres said.