Ma Foi forecasts 1.6 mn new jobs this year

The organised sector in India would create about 1.6 million new jobs in 2011. Healthcare sector, followed by manufacturing (non-machinery products), hospitality, real estate and others are likely to be the leading sectors in terms of job creation, according to Ma Foi Randstad Employment Trends Survey (METS).

In a study on the Indian employment trends and opportunities, the human resources firm said the wage bill this year is likely to be less because of margin pressure.

The survey, which included 650 companies across 13 industry sectors in eight major cities, indicates that most employers are optimistic about their hiring plans for the current year.

In early 2010, against a METS forecast of creation of 1 million jobs, 1,131,643 new jobs were reported, with healthcare (254,655), hospitality (160,300) and real estate (129,312) sectors leading the pack.

The three metros of Mumbai, Delhi & NCR and Chennai took the top three places, generating a total of 255,797 jobs.

In 2011, the healthcare sector will continue to top the table and is expected to generate 248,500 new jobs. In addition to top performers, manufacturing (non-machinery products) sector is expected to perform well, creating 223,400 new jobs, followed by hospitality (218,200), real estate (144,700) and media & entertainment (126,100), according to the survey.

This year too, Mumbai, Delhi NCR and Chennai would retain their top slots generating a total of 273,634 jobs among them, it said.

E Balaji, CEO & MD, Ma Foi Randstad, said the changing market scenario across the globe and the growing significance of emerging markets like India and China have led to many global corporates including these countries in their growth and workforce strategies. This will have a positive impact and increase our growth momentum.

“While there is positivity in the air, we also envisage an urgent demand to address the biggest challenge of employability that is threatening the growth. I do hope that steps will be taken in the right direction by both the government and the industry to address this issue quickly and effectively,” he said.

He added the expected average wage bill will be 10-13 per cent for the year 2011, compared to around 18 per cent in 2010.

“This is due to margin pressure which the corporate houses are likely to face due to increase in wages,” said Balaji.