Even as the economic growth over the next three quarters remains a matter of debate, India Inc has already indicated that a bullish sentiment will prevail in the employment market and forecast a positive picture for the next quarter.
In its latest survey, Manpower Inc, a global staffing company, has concluded that the net employment index in India will be 34 per cent for the quarter ending September 30, 2005.
In other words, 34 per cent (net) of the respondents to the survey believed that there would be a net addition to the payrolls.
Net employment index is derived by taking the percentage of employers anticipating total employment to increase, and subtracting from this the percentage expecting to see a decrease in employment in the next quarter.
The Manpower Employment Outlook Survey, that covered around 2500 employers across 24 cities and towns across the country, had included India in its global survey for the first time.
The survey covered finance, insurance, manufacturing, mining, construction, transport and utilities, and trade.
The survey revealed that the service sector showed a net employment outlook of 44 per cent, while finance, insurance and real estate showed an index of 41 per cent.
Of the employers who participated in the survey, 44 per cent expected no change for the next quarter, 41 per cent expected an increase and seven per cent expected a decrease, taking the average net employment outlook index to 34 per cent.
Even though India was included for the first time in this survey, the outlook for the country had the highest index of the eight countries from the Asia-Pacific region.
Even at a global level, covering developed countries like the US, Canada, Germany, France and the UK, the outlook for India has emerged as the most buoyant.
While India did not participate in the previous quarter's survey, the predictions for seven others in the Asia-Pacific region showed that except Hong Kong, all have forecast a lower index than what was predicted for the current quarter ending June 30, 2005.
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