Hiring to remain steady in April-June 2018 time frame

Hiring to remain steady in April-June 2018 time frame

"Indian job seekers are likely to benefit from the positive labour market during April-June. In the coming times, Technology will change the job market dynamics and individuals need to adopt skillset to continue to remain employable".

The year 2018 will see a sharp increase in demand for professionals with skills in emerging technologies such as artificial intelligence (AI) and machine learning in India.

Employers expect to increase staffing levels in all seven industry sectors during the upcoming quarter. The seasonally adjusted Net Employment Outlook for Q2 2018 is +18%. The weakest hiring plans are reported in Mining, Government Information and Nondurable Goods Manufacturing. Half of the employers in the region expect to keep staffing levels as they are, while the final six per cent surveyed are now unsure of their plans. When compared to the same period a year ago, the outlook remains upbeat despite notable declines in hiring expectations in crucial sectors such as Mining & Construction and Manufacturing. "It is also a decrease of three percentage points compared with the Outlook report during the same time a year ago, indicating a slow hiring period for the upcoming months". Similarly, employers in the Services sector report a decline of three percentage points compared to the same period in 2017.

The survey, conducted among over 4,600 employers across India in various segments of industries, noted that although the hiring pace will slow, few staff reductions are expected. When forecasts are compared with those reported in the first-quarter, hiring intentions improve in 17 countries and territories, decline in 17 and are unchanged in nine.

The results from Indianapolis employers show a 23 percent net employment outlook, a dramatic increase from the 13 percent reported for this quarter.

Respectable workforce gains are anticipated in the construction sector and the finance, insurance, real estate and business services sector with outlooks standing at +11%, while a moderate increase in payrolls is expected in two sectors with outlooks of +10% - the mining and quarrying sector and the public and social sector.

The latest data paints a picture of significant differences in hiring expectations across the country, both on a sector-by-sector basis and when compared regionally. Large employers report relatively stable hiring plans over the same period. Around 16% of the respondents foresaw higher staffing levels, five percentage points lower than in the previous quarter and two percentage points weaker than the second quarter of 2017, the report said.

"Employers continue to have confidence in the local labour market and still expect a modest increase in staffing levels over the next three months".