The ManpowerGroup Employment Outlook Survey, which covered 1,518 employers across the country, shows that the employment trends in the first quarter of 2021 are expected to rise with a Net Employment Outlook of 5 per cent. The outlook has registered an increase of two percentage points for the first three months of 2021 compared to the December quarter.
The sectors expected to drive the job market in the 2021 first quarter include finance, insurance and real estate, and mining & construction sector. All other sectors indicate negative growth in this quarter, the survey said.
“Corporate India is showing healthy signs of recovery and an overall positive sentiment is gripping the market. Many of the deep-rooted structural factors that have sustained Indian economy over the years like geopolitical stability, diversified economy, demography etc. are likely to play a pivotal role in the new normal.
“Besides, the government measures and attention to policies spurring private sector, encouraging competitiveness and self-dependence (Aatmanirbhar) are likely influencers too,” Sandeep Gulati, Group Managing Director of ManpowerGroup India, said.
With the onset of the festive season, the economy is gradually gaining momentum. Employers are also depicting an optimistic outlook towards bouncing back in terms of hiring within the next six to nine months.
As per the ManpowerGroup’s survey, which also included the impact of Covid-19, nearly 65 per cent of employers reported that they may return to pre-COVID-19 hiring within the next nine months as compared to 44 per cent in the December quarter.
The strongest hiring outlook was recorded in small sized organisations followed by the large and medium sized organisations. From a region perspective, East indicate a more positive outlook followed by West.