A Hiring sentiment in India for the first quarter of 2018 (January-March) is predicted to rise slightly from the last quarter. This marginal increase could suggest that employment activity in India is likely to gather steam in the initial phase of next year, a private survey said.
A Manpower survey, which included more than 4,905 employers across various industries, found that 57 percent have forecast no change in the staffing levels, 24 percent of the employers are projecting an increase in the staffing levels and only 3 percent expect a decrease in the hiring activity, Economic Times reported.
The survey points out that hiring intention remain positive in various sectors for the January-March period. Net employment outlook for the employers in the services sector is projected to rise 27 percent, employers in finance sees increase of 15 percent, insurance 19 percent and manufacturing 20 percent.
"Despite the market volatilities, India's macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development, with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects," said AG Rao, group managing director at ManpowerGroup India.
Further, employers have also projected payroll gains in the first quarter of 2018.
This report could also bring cheer to Central government as it comes at a time when Prime Minister Narendra Modi finds himself in the line of fire for failing to deliver the promises on job creation.
Further, Reserve Bank of India's statistics showed that small and medium-scale enterprises had suffered in the months that followed the implementation of the Goods and Services Tax (GST) and demonetisation, resulting in further plunge in job opportunities.
However, recent reports also suggest that employement in India might witness 10-15 percent hike in 2018 as the economy is recovering from the impacts of cash ban and confusion over the new tax regime.
Indian economy expanded 6.3 percent in the July-September quarter, bouncing back from a three-year low where the economic growth rate stood at 5.7 percent in the previous quarter, suggesting the economy is back on track.
