India's job confidence is at the highest in the Asia Pacific market despite factory activity slumped to its lowest in nine years in the month of July, following the launch of goods and services tax, according to Michael Page Job Applicant Confidence Index Q2 2017.
The survey assessed responses of 681 senior level employees across India and found that the majority rated overall workplace conditions from good to excellent which included current job atmosphere, future job scenario and current job prospect within their area of expertise.
Government initiatives, like the implementation of the new tax system and digital India drive, are expected to cheer the employment situation in India and boost growth. But, a recent contraction, in the manufacturing activity post the single tax implementation, clouds the hope for a robust growth and gives rise to doubts if the employment will pick up or actually slow down in the future.
Unemployment in India will rise by 1 lakh in 2017 and 2 lakh in 2018, according to the International Labour Organisation (ILO) figures that were released at the beginning of the year.
However, the government initiatives could partly be the reason behind such optimism among the Indian workforce with a significant majority of 84 percent hoping for a good economic future for India, compared to the other economies, showed the survey index.
The survey also showed, despite automation becoming a threat to a bunch of IT jobs and mass layoffs by the Indian firms, 73 per cent of the respondents were confident of securing a job within a three-month horizon.
"Indian economy is poised for a robust growth with technological advancements put on the fast-track with government initiatives such as 'Digital India'. These factors will create new positions and career opportunities in emerging sectors," said Nicolas Dumoulin, the Michael Page India managing director.
Skill enhancement, salary and better work-life balance were the top three picks why employees consider switching their jobs with the majority opting for skill enhancement.
