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Industry set to add new jobs in Oct-Dec
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Industry set to add new jobs in Oct-Dec
Last Christmas was a forgettable one for most employed Indians. But, this year, the Santa promises a merry Christmas.
After sharp job cuts in the first half of 2009, the industrial sector will become a net hirer in the fourth quarter (October-December). Besides, an improving employment outlook augurs well for private consumption demand. According to the Reserve Bank`s industrial outlook survey, collated by Nomura Financial Advisory, a net 8.8% of firms surveyed expect to increase employment in the fourth quarter of 2009 — a sharp improvement from around 5.1% in the second quarter, when a larger net share of firms expected to reduce, rather than increase, employment.
All industries, except textiles, are expected to increase their employment levels in the fourth quarter because of an expected increase in demand. Weak export demand continues to weigh on textiles.
At 8.8% in the October-December quarter, the `net response` on employment is still below the peak of around 18-20% seen in early 2008, but it is comparable to employment conditions in late 2005, the report said. "An improving employment outlook also bodes well for private consumption demand in quarters ahead, and could partly offset the drag from lower rural demand this fiscal year," said Sonal Varma, analyst with Nomura. "Improved employment conditions would also help lay a solid foundation for sustainable consumption demand."
Hewitt Associates, a global HR consultant, felt that the war for attracting talent would gain momentum in the days to come. "Things are much better on employment scene. We expect upwards trends in hiring to gain further momentum, both lateral and middle levels," said Nitin Sethi, business leader (consulting), Hewitt Associates. "Sectors like telecom, pharma and IT are showing signs of recruitment."
However, some sectors like retail would continue to be laggard. "Retail sector is wearing a gradual and cautious look towards recruitment. That is because, the investments have been heavy (in the sector) and might take some more time before they start recruitment in a big way," Sethi said.
Staffing firm Ma Foi Consultants said that more clients of theirs are positive these days. "Overall there is a greater drive towards recruitment. Several state governments are also hiring to fill up vacancies in education and health departments," Pandia Rajan, founder of Ma Foi, told TOI.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Industry-set-to-a
After sharp job cuts in the first half of 2009, the industrial sector will become a net hirer in the fourth quarter (October-December). Besides, an improving employment outlook augurs well for private consumption demand. According to the Reserve Bank`s industrial outlook survey, collated by Nomura Financial Advisory, a net 8.8% of firms surveyed expect to increase employment in the fourth quarter of 2009 — a sharp improvement from around 5.1% in the second quarter, when a larger net share of firms expected to reduce, rather than increase, employment.
All industries, except textiles, are expected to increase their employment levels in the fourth quarter because of an expected increase in demand. Weak export demand continues to weigh on textiles.
At 8.8% in the October-December quarter, the `net response` on employment is still below the peak of around 18-20% seen in early 2008, but it is comparable to employment conditions in late 2005, the report said. "An improving employment outlook also bodes well for private consumption demand in quarters ahead, and could partly offset the drag from lower rural demand this fiscal year," said Sonal Varma, analyst with Nomura. "Improved employment conditions would also help lay a solid foundation for sustainable consumption demand."
Hewitt Associates, a global HR consultant, felt that the war for attracting talent would gain momentum in the days to come. "Things are much better on employment scene. We expect upwards trends in hiring to gain further momentum, both lateral and middle levels," said Nitin Sethi, business leader (consulting), Hewitt Associates. "Sectors like telecom, pharma and IT are showing signs of recruitment."
However, some sectors like retail would continue to be laggard. "Retail sector is wearing a gradual and cautious look towards recruitment. That is because, the investments have been heavy (in the sector) and might take some more time before they start recruitment in a big way," Sethi said.
Staffing firm Ma Foi Consultants said that more clients of theirs are positive these days. "Overall there is a greater drive towards recruitment. Several state governments are also hiring to fill up vacancies in education and health departments," Pandia Rajan, founder of Ma Foi, told TOI.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Industry-set-to-a
