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BIZ-STUDY-JOBS-OUTLOOK (CORRECTED)

BIZ-STUDY-JOBS-OUTLOOK (CORRECTED)
outlookindia.com
1970-01-01T05:30:00+0530

India's job outlook drops 3% to 92% in H2 of FY19: Report

(Eds: Correcting dateline)

Mumbai, Nov 14 (PTI) The overall hiring sentiment for

the second half of this financial year has declined by 3 per

cent to 92 per cent with persisting currency and oil pricing

concerns in the country, according to a report.

It was 95 per cent in the preceding half-year

(April-September 2018), according to TeamLease Employment

Outlook report 2018-19.

The report surveyed 750 employers and 2,500 employees

of small, medium and large companies across 19 sectors and 14

cities to understand the hiring sentiment in the country.

The continued, significant, growth in GDP failed to

enthuse the job market for the forthcoming half of the year,

the report noted.

However, India has gained a bigger lead over global

markets in the second half in terms of the percentage

of employers (94 per cent) who report a possible increase in

their hiring volume.

In India, the power and energy sector is expected to

gain with 4 per cent growth in the hiring sentiment, over the

past half-year, across the employers surveyed.

"Despite the growing GDP there has been a slight dip

in the employment outlook in the next half year. However,

sectors such as power and energy and financial services which

have shown a surge in the employment outlook are a relief,"

TeamLease Services co-founder and executive vice-president

Rituparna Chakraborty said.

She said, tier III cities which have shown improvement

in the employment outlook is a testament that new avenues and

job markets are opening up across India and, therefore, many

opportunities will follow in the next half year.

"We are glad to report that the hiring of fresh

graduates across sectors and cities is likely to be nearly

16.3 per cent of all net new jobs created during the

April-September, 2018-19 half year. These factors will

definitely boost the confidence of the job seekers even though

there is a minor plunge in the outlook," she added.

Meanwhile, some of the other top sectors with

incremental positive hiring outlook were financial services

(up 3 per cent), media and entertainment (up 3 per cent),

educational services (up 3 per cent), healthcare and

pharmaceuticals (up 2 per cent), e-commerce and tech start-ups

(up 2 per cent), manufacturing, engineering and infrastructure

(up 2 per cent) and travel and hospitality (up 2 per cent).

With 3 per cent drop, construction and real estate,

retail and telecommunications are the top laggards in the

second half of the year, followed by agriculture and

agrochemicals (down 2 per cent), BPO/ITeS (down 2 per cent),

IT (down 2 per cent) and FMCG/D (down 1 per cent).

Power and energy will add 33,100 new jobs, financial

services will add another 44,650 new jobs and media and

entertainment will add 46,300 new jobs in H2 FY18-19.

For the cities surveyed in the report Mumbai will add

the highest number of jobs 1.66 lakh following by Delhi (1.55

lakh), Bangalore (1.52 lakh) and Hyderabad (96,000). PTI SM

DSK

DSK

DSK DSK


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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