Corporate India has reported the strongest global hiring sentiments for the next 3 months, with 37% of employers planning to expand their workforce, reflecting optimism about the country’s economic outlook, according to the ManpowerGroup Employment Outlook Survey for the fourth quarter of 2024. Of the 3,150 employers surveyed across sectors and regions, India leads globally with a Net Employment Outlook (NEO) of 37%, followed by Costa Rica (36%) and the US (34%). The NEO is calculated by subtracting the percentage of employers expecting reductions from those planning to hire. India’s fourth-quarter employment outlook stands at 37%, a 7% rise from the third quarter of 2024. It remains unchanged from the same period last year. Managing Director of ManpowerGroup India and the Middle East, Mr. Sandeep Gulati, attributed this outlook to exports boosted by multilateral foreign policies, large-scale infrastructure development, and India’s demographic advantage, which enhances its global competitiveness.
The survey highlights that all sectors reported positive hiring intentions, with the financial and real estate industry leading at 47%, followed by information technology (46%), industrials and materials (36%), and consumer goods and services (35%). Communication services posted the least optimistic outlook at 28%. Regionally, Northern India leads with a hiring outlook of 41%, followed by the West at 39%. He also emphasized that India’s focus on domestic consumption, government schemes, increased outsourcing demand, and a manufacturing boom will further drive economic growth. Additionally, efforts to develop skills could help reduce unemployment and create a workforce better suited to emerging industries. Across Asia-Pacific, employers anticipate a strong outlook at 27%, with India, Singapore, and China leading the region. In comparison, Hong Kong reported a more cautious 8%. The survey collected responses from 40,340 employers across 42 countries between July 1-31, 2024.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.