Hiring forecast in India for Q3 least optimistic since 2005: ManpowerGroup survey

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A survey of Windsor area employers has found that a steady hiring climate should be expected for the region within the next quarter. The manufacturing sector projects a particularly steep drop, with Manpower estimating a +9 percent net employment outlook compared to the +19 percent outlook in the last quarter. Almost one in four (24%) employers plan to hire in Q3 and another 70% anticipate their headcount will remain unchanged. KwaZulu-Natal employers report the strongest hiring prospects with a Net Employment Outlook of +7%.

Once seasonal variations are removed from the data, the net employment outlook stands at 4%, the least optimistic forecast reported by Singapore employers since 2009. The study surveyed 4,910 employers across India.

Meanwhile, an overview of the global results indicated that employer confidence is similar to that reported in the second quarter with the majority of respondents' content to either retain current staff or grow payrolls marginally as they await more definitive signals from the marketplace, the report added.

The survey suggests that the top hiring sectors in the next quarter will include the wholesale and retail trade sectors, the education sector, and transportation and utilities sectors. "This means that those individuals and organisations who are creating, installing, and maintaining these kinds of systems and technologies are more than likely experiencing an increase in demand, and are therefore looking to hire", explains van den Barselaar. The weakest outlooks are reported in Brazil and Peru, although Brazil's report is its first positive Outlook in more than two years.

Employers in two sectors report uncertain hiring intentions, with Outlooks of -1% reported in both the Agriculture, Hunting, Forestry & Fishing sector and the Mining & Quarrying sector. Staffing levels are expected to increase in all sectors, however, the pace of hiring will be slower.

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Small business (10-49 employees) owners expected no hiring or firing.

Quarter-on-quarter, Outlooks decline by 6 and 3 percentage points for Medium- and Small-size employers, respectively. Japan and Taiwan, with 24%, and Hungary, with 20%, are on top of the chart.

According to the World Bank, protectionism, high policy uncertainty and the possibility of financial markets disruption are some of the cited key risks to the global growth outlook.

India's job market shows no signs of recovery in the coming July-September quarter with companies reporting their weakest hiring plans since 2005, driven by stress in India's telecom and IT industries, and global uncertainties, according to a survey by ManpowerGroup, a staffing firm.