India has emerged as the most optimistic nation in terms of hiring plans for the next three months following a dramatic turnaround in employer confidence after four consecutive quarters of relatively lackluster forecasts.
According to the Manpower Employment Outlook Survey released on Tuesday by ManpowerGroup, the hiring pace for the upcoming quarter has rebound from both, last quarter and a year ago at this time. The net employment outlook for India stood at 41 per cent indicating that job seekers may benefit from a vigorous hiring pace in the months ahead.
"Employers expect robust hiring plans in all seven industry sectors and all four regions during Quarter 4," ManpowerGroup India Group Managing Director A G Rao said.
The dramatic turnaround in employer confidence was largely due to the recovery made by IT firms and allied companies. Moreover, there is a big opportunity for the e-commerce sectors to add more jobs to the labour market.
"The future demands in the IT sector for skills would include web analytics, design skills, IT Languages, Sector knowledge, understanding on security issues, database management and analysis skills," Rao added.
The most optimistic hiring plans were reported by employers in the wholesale and retail trade sector and the services sector, where net employment outlooks stand at 46 per cent and 45 per cent, respectively. In terms of region, employers in the northern region are most optimistic, where the net employment outlook stood at 52 per cent.
Worldwide, hiring expectations are strongest in India, Taiwan, Panama, Singapore and Brazil. Weakest opportunities for job seekers are expected in Italy, Spain and Finland.
General labour market conditions are expected to remain mostly positive with employers in 29 of the 42 countries and territories reporting that they plan to boost payrolls by varying degrees during the fourth quarter.
"There are encouraging signs from many parts of the world, including evidence of economic stability in Europe, and steady job creation and unemployment at a four-year low in the US, helping to reduce some of the uncertainty that has clouded the global economic environment, ManpowerGroup Chairman and CEO Jeffrey A Joerres said.
ManpowerGroup releases the Manpower Employment Outlook Survey quarterly to measure employers' intentions to increase or decrease the number of employees in their workforce during the next quarter. The survey covered 5,059 employers across India.