New Delhi: The pandemic is taken a massive toll on India Inc’s hiring plans for the current fiscal, however, companies are more confident of their hiring plans in the October-December quarter as compared to the quarter ended July-September quarter. According to the Manpower Employment Survey, jobs outlook in 2020 is the worst in the last 15 years in the four of seven sectors of the economy.
These sectors include manufacturing, mining and construction, services, and wholesale and retail trade. However, the sentiment is better in public administration, education, finance, real estate, insurance, transportation and utility sectors.
Of 813 companies surveyed, 7% have hiring pans in the October-December quarter as compared to 5% in the July-September period. However, this is lower than 20% who said they have hiring plans in the October-December quarter of 2020.
Out of those surveyed, 3% said they will cut jobs while 54% had neither hiring nor job cut plans while 36% were uncertain of hiring plans for the quarter ended December. The net employment output stands at 4% — which is the difference between those who plan to hire and those who to reduce headcount, adjusting for seasonal variations this stands at 3%.
Source: ET Now News
