Hiring outlook for manufacturing sector remains subdued

New Delhi, Sep 12 : Although economic activities are returning to normalcy post the impact of the second wave of Covid-19, the hiring outlook for the manufacturing sector remains subdued.

Around 68 per cent of the respondents to the FICCI Manufacturing Survey for Q2 (July-September) said that they are not likely to hire additional workforce in the next three months.

"This presents a near stable situation in the hiring scenario as compared to the previous quarter Q-1 of 2021-22, where 69 per cent of the respondents maintained similar sentiments," said a FICCI statement.The overall outlook for the manufacturing sector, however, has improved significantly in Q2 FY22.

The percentage of respondents reporting higher production in second quarter of 2021-22 was much above the 50 per cent mark, at around 61 per cent.This was significantly higher than the percentage of last years Q2 quarter (around 24 per cent).

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The statement also said that the assessment is also reflective in order books as 72 per cent of the respondents in July-September 2021-22 expected a higher number of orders in comparison to April-June 2021-22.It further said that the outlook for exports seems improving as around 58 per cent of the participants are expecting a rise in their exports for Q2 2021-22 and 30 per cent are expecting exports to continue to be on same path as that of same quarter last year.

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