Net employment outlook for third-quarter expected to be record high: Manpower Group survey

Despite rising inflation and the geo political instability, there is a positive sentiment across sectors in India in a bid to speed up the recovery

India’s labour market is expected to show strong sentiments in the third quarter of calendar 2022, forecasts ManpowerGroup.

According to its employment outlook study released on June 14, some 63% of enterprises in the country expect to increase their employee base, 12% anticipate a decrease in hiring intent and 24% do not anticipate any change, indicating a seasonally adjusted net employment outlook of +51% which is a record high in eight years.

When compared to the same period last year, hiring sentiments have improved by +46 while there is a 13 percentage points growth when compared to the last quarter, as per the study.

Sandeep Gulati, Managing Director, ManpowerGroup India said, “Despite rising inflation and the geopolitical instability, there is a positive sentiment across sectors in India in a bid to speed up the recovery process and sustain the economic growth of the country.’‘

Employers in three (North, South and West) out of four regions showed equally strong pace with a net employment outlook of +53% whereas the outlook for East was +41%, the study found.

IT, Telecom, Communications and Media sectors were expected to have a net hiring outlook of +68% followed by Banking, Finance, Insurance and Real Estate Sector (60%).

However, enterprises said it was tough to find talent with soft skills such as creativity, originality, critical thinking, analytical mind, reasoning and problem-solving abilities.