India’s hiring outlook remains robust, with 54% of employers planning to hire in the next three months amid projections of development prospects for emerging countries as a result of ongoing geopolitical crises.
According to the global staffing firm Manpower Group Employment Outlook Survey, the labour market is showing positive signs for October-December 2022. India has the best hiring outlook globally, second only to Brazil, with 54 per cent of companies surveyed planning to hire in the December quarter as against 51 per cent in the September quarter.
The report titled “ManpowerGroup Employment Outlook Survey” showed that India has the strongest net employment outlook for the December quarter in the Asia-Pacific region, followed by China (46 per cent), and Australia (38 per cent).
The global net employment outlook in the December quarter would stand at 30 per cent, down by three percentage points from the June-September quarter, yet six percentage points higher than the same period last year, the staffing firm said.
The study says that in India, 64% plan to raise their staffing levels, 10% foresee a decline in recruiting intent, and 24% expect no change, giving a seasonally adjusted Net Employment Outlook of 54%.
The report calculates the net employment outlook by subtracting the percentage of employers, who anticipate reductions to staffing levels, from those who plan to hire.
The report notes that globally, organisations in the IT industry report the most optimistic outlook (42 per cent), followed closely by banking (37 per cent), restaurants and hotels (33 per cent), real estate (30 per cent), and manufacturing (30 per cent).
Despite such positive trends, challenges persist and the shortage of skills is at record highs in many markets with unemployment levels remaining high while workforce participation stagnates.