India's Hiring Outlook Surges 7% For Q4 2024

The hiring intention of employers signifies the positive outlook in the country’s economic position that has been reinforced by exports as a result of multi-lateral foreign policies and large-scale infrastructure development

New Delhi: The employment outlook in India is the strongest worldwide for the October-December period (Q4 2024), showing significant improvement of 7 per cent compared to the ongoing July-September quarter (Q3), a report showed on Tuesday.

Employers across all sectors report net positive hiring intentions for the festive quarter, with financial and real estate industry having the strongest outlook of 47 per cent, followed by information technology (46 per cent), industrials and materials (36 per cent) and consumer goods and services (35 per cent), as per the latest ManpowerGroup’s ‘Employment Outlook Survey’.

The least optimistic prospects were witnessed in the communication services (28 per cent). North India continues to dominate the job demand with a growth outlook of 41 per cent, followed by West (39 per cent). Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East, said the hiring intention of employers signifies the positive outlook in the country’s economic position that has been reinforced by exports as a result of multi-lateral foreign policies and large-scale infrastructure development.

“Coupled with this is our demographic advantage that is expected to boost our competitiveness in the global market,” Gulati added. The country is expected to focus on its high domestic consumption, economy-booster government schemes, increasing demand for outsourcing services and manufacturing boom.

With increased focus on skill development to meet market demands, India may be able to reduce unemployment and fasten the pace of economic development by creating more capable and adaptable workforce that meets the need of the emerging industries, the report mentioned. When compared to the same period last quarter, besides healthcare and life sciences (-6 per cent), all other sectors have shown a positive uptick, it added. The report further mentioned that talent shortage continues to widen the demand supply gap in India Inc.