Indian corporate hiring sentiment is strongest globally in Q4 2024. This means there will be an oversupply of employment. Companies are excited about the economic situation in the country and 37 per cent of employers are planning to increase the number of their employees. This came to light in a survey released on Tuesday. According to ManpowerGroup’s Employment Scenario Survey for Q4 2024, India’s net employment scenario is the strongest in the world at 37 per cent. After this, Costa Rica with 36 per cent and the US with 34 per cent are in second and third place respectively.
What does the report say?
The Net Employment Outlook (NEO) is calculated by subtracting the percentage of employers who intend to hire from the percentage of employers who expect to reduce their workforce. India’s employment outlook for the fourth quarter (October-December) stood at 37 per cent, seven per cent higher than in the third quarter. This is unchanged compared to the same period last year.
Sandeep Gulati, Managing Director, ManpowerGroup (India and West Asia), said that employers’ hiring intent reflects the positive outlook of the country’s economic situation, which has been strengthened by multilateral foreign policies and exports as a result of large-scale infrastructure development. In addition, we have a demographic advantage that is expected to boost our competitiveness in the global market.
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There is greater demand in this area.
According to the survey, the northern region of India leads the demand for employment with a probability of 41 percent. Next comes the western region with 39 percent. The employment scenario in India, Singapore and China has strengthened. Employers in Hong Kong were very cautious about employment. The survey is based on responses received between July 1 and July 31, 2024. In it, 40,340 employers from 42 countries were asked about their hiring intentions for the fourth quarter.
