India’s employment market may see a slowdown in the July–September quarter compared to April–June. Companies will likely moderate hiring plans as geopolitical uncertainties continue.
According to the latest ManpowerGroup Employment Outlook Survey, India’s net employment outlook for July–September stood at 48 per cent, sharply lower than the 68 per cent recorded in April–June. However, this figure was six percentage points higher than the same period last year. The net employment outlook is the difference between the percentage of employers expecting to decrease staffing levels and the percentage of those planning to hire.
The survey, which covered more than 3,100 employers across India, showed that 59 per cent of employers planned to increase staffing levels in July–September, down from 74 per cent in the April–June quarter. Meanwhile, 11 per cent expected workforce reductions, 29 per cent anticipated no change in workforce size, and one per cent remained uncertain.
Globally, India remains one of the strongest employment markets. The survey placed other major economies — the US (45 per cent), the UK (37 per cent), China (33 per cent), Germany (six per cent), and Japan (five per cent) — much lower than India in terms of net employment outlook. India’s hiring outlook was also significantly above the global average of 26 per cent.
WHO’S HIRING?
Among sectors, utilities and natural resources continued to lead hiring intentions with a 61 per cent outlook in July–September, followed by finance and insurance (56 per cent), information (29 per cent), construction and real estate (26 per cent), and trade and logistics (24 per cent).
However, utilities and natural resources witnessed a slowdown from a 70 per cent outlook seen in April–June. Finance and insurance emerged as the strongest improving sectors on a year-on-year basis, with hiring sentiment rising 14 percentage points from the same period last year.
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