According to a report by ManpowerGroup, the labor market in India is likely to show strong sentiments in the third quarter of calendar 2022 despite the mounting inflationary pressure due to blockage in supply chains and geopolitical tensions.
The employment outlook study released by the group on June 14 says around 63% of enterprises in the country are contemplating overexpanding their employee base, 12% expect a fall in hiring intent while 24% anticipate no change. It indicates a seasonally adjusted net employment outlook of +51%, a record in the last eight years.
If we see last year’s employment sentiment, hiring sentiment is better by +46 while in comparison with the last quarter’s figure, it improved by 13 percentage point growth as per the study.
Sandeep Gulati, Managing Director, ManpowerGroup India said, “Despite rising inflation and the geopolitical instability, there is a positive sentiment across sectors in India in a bid to speed up the recovery process and sustain the economic growth of the country.”
Employers in the Northern, Southern, and Western regions exhibited a strong pace at equal footing with a net employment outlook of +53% whereas the outlook for East stood at +41%.
IT, Telecom, Communications, and Media sectors are expected to race ahead in the net hiring with an outlook of +68% followed by the Banking, Finance, Insurance, and Real Estate Sector (60%).
However, enterprises mentioned candidates having soft skills such as creativity, originality, critical thinking, analytical mind, reasoning, and problem-solving abilities were tough to find.