India's Hiring Outlook Strong for 2024 Q3

India ranks sixth globally in employment outlook for Q3 2024, with 30% of businesses planning to hire. This figure is 8 points above the global average but has weakened by 6% from last year. Despite cautious hiring due to political uncertainty, sectors like real estate remain robust.

India stands sixth globally for its employment outlook for the third quarter of 2024, according to a ManpowerGroup survey, with 30% of businesses planning to hire more staff over the next three months.

India’s Net Employment Outlook (NEO) is 30%, although it has declined by 6% from the previous quarter and the same time last year. Despite the decline, India's outlook is still 8 points above the global average, which places it among the top globally.

The survey, conducted across 42 countries, found Costa Rica leading with the strongest hiring expectation at 35%, followed by Switzerland, Guatemala, Mexico, and South Africa. In contrast, Argentina and Romania have the weakest NEO at 3%.

Regionally in Asia Pacific, India and China report the strongest outlooks at 30% and 28%, respectively. Political uncertainty and IT sector slowdown are contributing factors to the cautious hiring sentiment in India.

Despite these challenges, sectors such as real estate have seen increased investor interest, with a capital inflow of USD 1.1 billion. Large organizations with 1,000-4,999 employees show the most hiring optimism at 42% NEO.

The financial, real estate, healthcare, and life sciences sectors continue to lead in hiring intentions, whereas communication services, transport, logistics, and automotive sectors show weaker outlooks. The adoption of AI is expected to raise headcount, with 68% of employers planning to hire due to AI and Machine Learning advancements.