Job Market in India Improves

When we talk about jobs and often times we talk about the job market in the USA and in Europe. Sometimes places in Asia are discussed, but mostly in the manufacturing area. Today we are going to talk about India and their job market.  Like every company they have had to deal with some serious problems with hiring and profitability in the past few years due to concerns with the precarious state of the global economy. Even those companies that have not been directly affected by the downturn can see that there is reason to be conservative with their profits on the whole.

In the case of India the news is a good news/bad news situation. That means that some workers will benefit significantly, while others will have to deal with a hard situation. Workers in the India job market are expecting to see a slow surge in the job market, which new hiring, which is actually a bit less than last year. So the job market may actually shrink a little for prospects in that nation. The good news part is that they expect that the salaries for newly hired workers will be higher than they have been in prior years, so the workers who get jobs will have more money to support their families and pour into the economy on the whole. That could stimulate job growth.

According to one expert, Ma Foi Randstad MD and CEO E Balaji as well as a global HR consultant, told a reporter for PTI,  the following, “Although there will be a variation in employment generation outlook across sectors, new jobs will continue to be added, but at a slower pace. The global economic uncertainty has impacted the Indian market, in spite of the positive sentiments displayed at the beginning of 2011”

Some of the analysts have been coming up with a different prediction however. They have been seeing India as the next target for large-scale layoffs in a variety of sectors but mostly focusing on domestic employment in the nation.  Of course some very similar predictions were made for India in 2011, which had a fair degree of accuracy. The prediction for the 2012-year is a little bit less dire than last year’s predictions.

Of course, it is important to not that many analysts believe that workers in India will do better than their peers in other nations, in terms of looking for a job. Sectors like retail, IT, defense, nuclear energy and hospitality are all expected to see at least some growth in the near future.

Another analyst, global human resources major Hay Group’s India MD, Gaurav Lahiri,  talked to by the same reporter the following about the Indian talent selection and retainment process, “The Indian employment market is cautiously optimistic.” Basically what he believe is that job seeker in the Indian job market may see up to low double-digit salary hikes next year.  The maximum increase may be up to 12 percent of overall salary. So on the whole this year could be a precursor to longer-term growth.