Recent Survey: India’s Job Market for July – September the Most optimistic in 8 Years!!!

Recent Survey India’s Job Market for July – September the Most optimistic in 8 Years!!!
Recent Survey India’s Job Market for July – September the Most optimistic in 8 Years!!!

Recent Survey: India’s Job Market for July – September the Most optimistic in 8 Years.According to a study released on Tuesday, India’s job market is looking good, with 63% of employers aiming to hire more people in the next three months in order to speed up the recovery and maintain economic development.

The labour market is indicating strong emotions in the third quarter (July-September) of 2022, according to the ManpowerGroup Employment Outlook Survey, with a Net Employment Outlook of 51%, which is a record high in 8 years.

The percentage of employers expecting total employment to increase is subtracted from the percentage predicting a reduction in employment at their location in the coming quarter to arrive at the Net Employment Outlook.

For the September quarter, 63 percent intend to raise their personnel levels, 12 percent expect to reduce hiring intent, and 24 percent expect no change, giving in a seasonally adjusted Net Employment Outlook of 51%. “Despite growing prices and geopolitical volatility, there is a positive feeling across industries in India in order to speed up the recovery process and support the country’s economic growth,” said ManpowerGroup India managing director Sandeep Gulati.

The study of more than 3,000 companies in India found that hiring sentiments have increased by 46 percentage points when compared to the same period last year, and that there has been a 13 percentage point increase when compared to the April-June period.

Employers expect significant demand for talent across key areas, according to the poll, with digital roles driving the most demand. IT & Technology had the best prospects (68%) followed by Banking, Finance, Insurance, and Real Estate (60%), Other Services (52%), Restaurants and Hotels (48%), and Manufacturing (48%). (48 per cent).

“Our country’s growing need for digitalization, automation, and tech-enabled services, together with global demand for Indian IT workers, will keep the IT and Technology sector at the top of the Indian job market,” Gulati added.

India (51%), Singapore (40%), and Australia (40%) reported the highest hiring intentions in the Asia Pacific area (38 per cent).Taiwan (3%), Japan (4%), and Hong Kong (3%), on the other hand, indicated the lowest hiring aspirations (11 per cent). Meanwhile, when compared to the previous quarter and the same time last year, hiring prospects in all four regions of the country have improved.

Gulati commented on the talent shortage and the difficulty in finding the essential soft skills for the position “According to our Talent Shortage Survey, we are facing an unprecedented demand-supply disparity. Employers and industry participants like us should make reskilling and upskilling the workforce a top priority in order to close this gap.”

Creativity and originality, critical thinking and analysis, reasoning and problem solving, leadership and social impact, and initiative taking are the top five soft skills that firms struggle to find.

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