India to create 1.6 Million jobs in 2011: Survey

Thursday, 31 March 2011, 18:31 Hrs

India to create 1.6 Million jobs in 2011: Survey

Chennai: For the second successive year, more than one million new jobs will be created in India's organised sector in 2011, led by the healthcare sector, but there will be no attractive pay hikes for those in harness, states a survey on employment opportunities released.

Another dampening factor is that there will not be any attractive compensation package for freshers as the wage bill hike across sectors for 2011 is pegged between 8.82 percent and 12 percent, says the Ma Foi Randstad Employment Survey.

According to the survey, around 1.6 million new jobs will be created in 2011 on the back of capacity expansion by companies.

As per the survey conducted amongst 650 companies across 13 industry sectors in eight major cities, the healthcare sector is expected to create 248,500 new jobs. Sectors like real estate, hospitality and manufacturing of non-machinery products together would create 223,400 new jobs.

"The estimated wage bill hike across the sectors will be in the narrow band as most companies are under margin pressure," Ma Foi Randstad's managing director and CEO E.Balaji told reporters.

According to the survey recruitment of freshers will be high - up to 70 percent - in hospitality, transport, media, retail and education sectors while others like would opt for experienced hands.

Amongst the cities, Mumbai, Delhi and Chennai offer better options and would offer 270,000 fresh jobs.
Source: IANS