India ranks 6th in employment outlook for September 2024 quarter

India is the sixth strongest nation globally in terms of employment outlook for the September quarter of 2024, a survey conducted across 42 nations by ManpowerGroup has found. The survey adds that 68 per cent of employers globally said they planned to increase the number of workers owing to the advent of AI and Machine Learning.

INDIA TOPS IN ASIA-PACIFIC REGION

The net employment outlook data, deduced by subtracting employers planning retrenchment in terms of those planning to hire, shows 30 per cent of Indian companies look forward to expanding staff count over the upcoming three months. The data gives India the most robust employment outlook in the Asia Pacific region, the survey by the workforce solutions company ManpowerGroup informs, and concludes that India’s employment outlook is 8 points above the international average for the fiscal quarter of July to September 2024.

In all, the survey polled 3,150 employers in India and, going by the responses, hiring intention in North India was the highest at 36 per cent, followed by West India at 31 per cent. South India (30 per cent) and East India (21 per cent) were next.

Overall, India’s employment outlook average has dropped by 6 per cent compared to the last quarter and also on a year-on-year basis.

COSTA RICA IS GLOBAL TOPPER

Costa Rica topped the survey as the nation with the strongest employment outlook at 35 per cent, while Switzerland was second with 34 per cent and Guatemala finished third with 32 per cent. Mexico (32 per cent) and South Africa (31 per cent) completed the top five nations with the best employment outlook in the fiscal quarter of 2024 ending in September. Globally, Argentina and Romania have the weakest employment outlook average at 3 per cent.

Following India at the second spot in the Asia-Pacific region is China with a 28-per cent average. Japan (12 per cent) and Hong Kong (8 per cent) have the most cautious employment outlook averages in the region.

AI COULD BOOST HUMAN JOBS

Interestingly, the survey shows 68 per cent of employers plan to increase the number of workers owing to the advent of AI and Machine Learning, in the upcoming two years. More than 62 per cent employers have adopted AI while 80 per cent team leaders share a positive outlook about the impact of AI.

LARGE ORGANISATIONS HIRED MORE

Hiring sentiment witnessed a drop across all sectors compared to the same period last year. Large organisations, with 1,000 to 4,999 employees, revealed strongest hiring tendency with a net employment outlook of 42 per cent. Small organisations, with 50 to 249 employees, and medium-size organisations, with 250 to 999 employees, recorded an average of 34 per cent average.

Healthcare, real estate, finance and life sciences were sectors with strongest hiring intention while automotive, logistics, transport and communication revealed the weakest hiring intention.