Page 2 - Services Sector
Majority of employers in services sector keen to hire in Q3: Report
A majority of employers in the services sector are keen to expand their workforce in the third quarter of this fiscal, according to a report. Around 73 per cent of employers are eager to increase their resource pool this quarter, according to TeamLease Services 'Employment Outlook Report for Q3 (October to December 2022) for the services sector. The 'TeamLease Employment Outlook Report' is based on a survey of 579 service companies in 14 cities across the country. The report further stated that in the services segment, the key sectors expressing a higher intent are information technology (96 per cent), educational services (95 per cent), e-commerce and allied start-ups (92 per cent), telecommunications (90 per cent), retail (79 per cent), financial services (78 per cent) and logistics (75 per cent). As the demand for services has increased post the pandemic, large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) have all mustered a strong hiring .
 "Majority of employers in services sector keen to hire in Q3: Report")
Three-fourth employers in services sector willing to hire: TeamLease
The hiring boom in India's services sector is likely to continue in the third quarter, with 73 per cent of employers willing to increase their resource pool
 "Three-fourth employers in services sector willing to hire: TeamLease")
India's unemployment rate of 6.4% in September is the lowest in four years
It was rural India that made the bigger contribution to the turnaround in labour conditions
Bengaluru most promising for job seekers in services sector: Report
According to the 'Employment Outlook Report' by TeamLease Services, 61 per cent of employers of India Inc. were keen to hire during the period, growing by 7 per cent compared to last quarter
 "Bengaluru most promising for job seekers in services sector: Report")
Department of Commerce to overhaul export scheme for services sector
The scheme is expected to be a part of the new foreign trade policy expected to be rolled out by the Directorate General of Foreign Trade next month, said people in the know
India's services PMI at 4-month low of 55.5 in July amid high inflation
The domestic market remained the key source of sales growth as international demand for Indian services worsened further, the survey said
Indian economy gains momentum on pent-up demand after reopenings
The upturn in recovery of Indian economy was fueled by an expansion in services activity and a robust growth in core infrastructure industries
 "Indian economy gains momentum on pent-up demand after reopenings")
China's services sector activity squeezed by surge in Omicron cases
Activity in China's services sector contracted at the steepest pace in two years in March as the local surge in coronavirus cases restricted mobility and weighed on client demand
 "China's services sector activity squeezed by surge in Omicron cases")
Need govt support, specific incentives for services sectors: Exporters
SEPC says travel, tourism and hospitality sectors need govt support
 "Need govt support, specific incentives for services sectors: Exporters")
Japan service sector shrinks at fastest pace in 5 months, firms shed staff
Companies less optimistic that activity would rise over the next year, with positive sentiment reaching a five-month low: PMI survey.
 "Japan service sector shrinks at fastest pace in 5 months, firms shed staff")
Economic upturn lifts credit boat in all segments in December: RBI data
Services sector shows traction on rise in loan to finance firms
 "Economic upturn lifts credit boat in all segments in December: RBI data")
Economic Survey: Services sector resilient, to grow by 8.2% in FY22
Omicron could prove a hurdle, may particularly impact contact intensive segments, says Survey
Services sector credit growth still slow despite Covid relaxations
Broad-based credit expansion is expected over the next two to three quarters
 "Services sector credit growth still slow despite Covid relaxations")
Need 100 mn jobs in next 10 yrs to gain from demographic dividend: Experts
Tertiary sector is not going to generate most of these 100 million jobs; focus should be on manufacturing and formal sector
 "Need 100 mn jobs in next 10 yrs to gain from demographic dividend: Experts")
Services activities moderate in Sept but firms continue hiring: PMI survey
Increase in companies creating employment ended a nine-month sequence of job shedding.
Organised sector weathers second Covid wave on job front: Labour survey
Among industries, employment generated by the construction sector rose by 42% and the manufacturing sector by 22%
 "Organised sector weathers second Covid wave on job front: Labour survey")
Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore
The facility to claim benefits under SEIS on payments in Indian currency will not be available for services rendered in FY20
 "Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore")
India formulating standards for services sector for high quality: Goyal
India is formulating standards for the services sector so that the country can have high quality of services to offer, Piyush Goyal said
 "India formulating standards for services sector for high quality: Goyal")
India's economic recovery stumbles, setting stage for sustained low rates
A contraction in India's services sector deepened as localized curbs to control the virus spread hurt consumer demand and business activity
 "India's economic recovery stumbles, setting stage for sustained low rates")
China's services activity growth slows in May to 55.1 from 56.3: Caixin PMI
China's services sector expansion slowed in May, a private sector survey showed on Thursday, with weaker overseas demand and increased costs putting pressure on businesses
 "China's services activity growth slows in May to 55.1 from 56.3: Caixin PMI")
