In these times of economic slowdown,public sector employment seems to have emerged as the flavour of the season for job seekers,as these opportunities offer increased job security and better growth prospects.
“There is a clear shift of focus towards the public sector jobs. Besides,the general election results and the subsequent government formation seem to have boosted the positive sentiments in this segment,” staffing services firm Manpower India Managing Director Naresh Malhan said.
He added that “the bullishness in this space is likely to stay for the next few months.”
Moreover,the implementation of the Sixth Pay Commission,which has raised the pay packets of government employees almost at par with their private sector counterparts,has increased the attraction for public sector jobs.
In the wake of the economic downturn,industry experts feel there has been a shift towards public sector employment. Rising number of pink slips and reduction in salaries and increment in the private sector,have grabbed headlines in recent months,they said,adding,in such a scenario,government jobs are looking pretty attractive.
As per Manpower,job seekers in public administration and education can look forward to the most favourable hiring environment,with a net employment outlook,a measure of hiring plans by employers,of 33 per cent.
A sector wise analysis shows that public administration and education sector are the most optimistic,while,finance,insurance and real estate sector employers report the least optimistic hiring intentions with a net employment outlook of 11 per cent.
The reason for this sharp rise in hiring intentions in these sectors were largely due to the proactive steps (like fiscal stimulus plans) taken by the government to improve the condition of the economy and as the private sector is suffering badly.
“We are witnessing emerging strength in the Public Administration & Education sector,where employers were the only ones to report improved hiring plans on both a quarter-over-quarter and year-over-year basis. This is largely due to government’s stimulus initiatives in the past six months,” Manpower India Managing Director Naresh Malhan said.
Yesterday,the country’s largest lender,the State Bank of India,plans to recruit 13,000 persons at various levels during the current fiscal and according to initial estimate public sector banks are set to hire as many as 30,000 personnel during 2009-10.
As per the Manpower survey 19 per cent of employers still have a positive hiring intention for the next three months even as economic slowdown continues to squeeze the global labour market,wherein 11 of the 34 countries have positive hiring plans.