New Delhi: India leads globally for its employment outlook for the October to December quarter (Q4) of 2024 with a Net Employment Outlook (NEO) at 37 per cent, ahead of Costa Rica and the United States (US), a recent survey by ManpowerGroup revealed.
This means 37 per cent of employers are planning to increase their staff strength as the companies are confident about the country's economic scenario. While India leads with the strongest hiring sentiment, Costa Rica reported a 36 per cent employment outlook followed by the US (34 per cent), in the second and third positions.
Notably, India's employment outlook is up by 7 per cent from July to September (Q3) of 2024 but remained unchanged in comparison to the same time last year.
Situation In Asia-Pacific Region
The report said the hiring managers across the Asia-Pacific countries anticipate the second strongest regional Outlook with 27 per cent at NEO. The region has seen a 4 per cent increase from the previous quarter but a 5 per cent decrease when compared to the same time last year.
As India has taken a lead in this parameter, Singapore comes second with 29 per cent followed by China at third number with 27 per cent. In contrast, Hong Kong with 8 per cent reported the "most cautious outlook" by employers. The NEO figures are obtained by subtracting the percentage of companies that expect to reduce employees from those who intend to hire.
Top Official Of ManpowerGroup Speaks
Sandeep Gulati, Managing Director of ManpowerGroup, India and Middle East, told PTI that the strong hiring intention of employers highlights the country’s strong economic position reinforced by exports through multilateral foreign policies and major infrastructure development.
"Coupled with this, is our demographic advantage that is expected to boost our competitiveness in the global market,” he said. The survey further noted that the Northern region of India continues to dominate the job demand with an outlook of 41 per cent followed by the West (39 per cent).
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