HR DEMAND IN MINING AND CONSTRUCTION SECTORS
The Indian job market is expected to remain extremely vibrant in the first quarter of 2007, with mining and construction sectors expected to hire more.
Of the 27 countries and territories surveyed globally this quarter, the hiring intentions continue to be strong in India with an overall net employment outlook of 39%, a survey by global recruitment firm, Manpower Inc said. According to the Manpower Employment Outlook Survey this represents a slight decrease over the last quarter by three percentage points, but is a considerable year-on-year increase of 12 percentage points.
Employers in the services sector have reported a bullish net employment outlook at 43%, an increase of 13% points compared to last year. The finance, insurance and realty sector has shown a fall in employer hiring intentions by 11% points over the previous quarter, with a net employment outlook of 39%.
On a global scale, the survey results reveal brighter prospects ahead for job seeking in Peru and Singapore in the next three months, and steady hiring plans till the end of the year in India.
The survey conducted for the seventh consecutive quarter in India, shows that employers remain positive. Of the 4,742 employers surveyed, 41% expect an increase in hiring activity for the first quarter of 2007, 2% anticipate a decrease and 50% are expecting no change.
The survey includes employers in seven industry sectors â€“ finance, insurance, real estate, manufacturing, mining and construction, public administration, transportation, and wholesale and retail trade.
The net employment outlook is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter.
Evaluating the quarter on quarter trends, the most significant decrease is in the finance/insurance/realty sector with an 11% QoQ decrease, while the services sector reported marginally weaker hiring expectations from 45% to 43% this year. Employers in the public administration and education sector have reported a reduced net employment outlook by nine percentage points while employers in the wholesale and retail trade sector expect a moderately slower hiring pace with a decline of eight percentage points.