Job creation picks up in India after economic turnaround

New Delhi, June 17 (Calcutta Tube) India is set to add 347,463 jobs in the organised sector by the end of the first quarter of this fiscal as the robust turnaround in the economy has encouraged organisations to recruit new employees, says a global manpower consulting firm.

A study by Ma Foi Randstand reveals that 153,564 jobs were created during January-March 2010 and another 347,463 are to be added by June-end.

‘The pace of job creation in India, in fact, is little faster than what we envisaged in our study,’ said Ma Foi Chief Executive K. Pandia Rajan, releasing the study here.

Detailing the city-wise employment trends, Rajan said the national capital region is set to emerge as largest employment opportunity provider with 38,350 jobs, followed by Mumbai (27,650 jobs) and Chennai (11,900 jobs).

The organised sector in India accounts for merely 9 percent of jobs. The government, the public sector and the private sector each contribute to one third of jobs in the organised sector, Rajan said.

‘So, the positive sentiment of the organised sector should expand to the unorganised sector as well.’

The latest projection for job creation during April to June and estimates of actual job creation from January to March 2010 for the organsied sector was arrived at after surveying the employment trends in 650 companies across 13 industry sector in eight major cities – Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune, said Rajan.

The survey had sought details of hiring during the first three months of the financial year and the likely openings in the second quarter, he added.

The 13 industry sectors from which the data was generated during the survey included banking, financial service and institutions (BFSI), Information Technology and IT Enabled Services (IT and ITES), pharma, healthcare, trade, including consumer retail service, energy, transport, storage and communication, real estate and construction, hospitality, media and entertainment.

The other three industry sectors which were included in the survey were manufacturing of non-machinery and equipments, education, training and consultancy.

Rajan said almost all sectors witnessed a sense of optimism with the performance of economy last year and specially during January to March this calendar year.

‘High performance of economy has encouraged sector players to recruit new employees,’ said Rajan, adding that ‘the recruitment process will spread over the entire year in a planned manner rather than it happening at any particular point of time in an aggressive manner.’

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