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Mixed Signals-2008

Description:

Retail and telecom perk up, while IT, ITES and manufacturing slacken, reveals the seventh quarterly BT-TeamLease Employment Outlook Survey in India.

It’s time to wait and watch. The seventh Business Today-TeamLease Employment Outlook Survey reveals that business confidence and the employment scenario have reached a low, though some sectors continue to buck the negative trend. Quarter-on-quarter, the net employment outlook is at an all-time low. This indicates that the flurry of activity in India’s job market has halted. Employment growth prospects in the IT, ITES and manufacturing & engineering sectors have been hit the hardest while telecom, retail, media and FMCG, continue to look promising...

Contents:

1. IT’s Trying Times: Expectedly, the ITES sector is under the weather with a drop of 24 index points to 76 points from a peak of 100 index points in the last quarter. IT has taken a relatively smaller hit of six index points to 78…

2. The Growth Centres: There has been a huge swing in the employment sentiments of the cities covered. While Delhi becomes a favoured destination with an increase of 18 index points over the last quarter’s score of 70 index points, Pune has surged 22 index points…

3. Small Is Bigger: While the larger cities battle it out for job opportunities, many domestic companies and MNCs are exploring the Class-I and Class-II cities in a bid to scale up their operations…

4. Biz Talk: While the business sentiment is bleak, telecom and infrastructure maintain a positive outlook. Points out Anirudh Singh, Head (HR), JSW Group: “Sectors like infrastructure, energy, cement and steel continue to remain positive yet increasingly cautious about their hiring intentions. Reason: huge investments are being made in the infrastructure space. Also, there is a demand-supply mismatch in this sector, which may force companies to hire at a robust pace.”

5. Riding the Wave: Across functions, the intention to hire in production and marketing has risen significantly compared to the last quarter. IT, finance and HR have all posted a decline in hiring sentiments…

6. What’s Next?: Rapid change seems to be the theme for the employment scenario over the coming months. While it’s await-and-watch game for some, the buoyant sectors are unlikely to peter out any time soon…

7. Methodolgy.

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Mixed Signals-2008

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