According to the Manpower Employment Outlook Survey :
The survey data reveals that employers with the most active first-quarter hiring plans globally -- despite generally weaker hiring patterns -- are reported in Peru, India, Costa Rica, Canada, Romania, Colombia, South Africa, Australia, Poland, the United States and China.
On the other hand, employers in Singapore, Ireland, Spain and Italy reported the least optimistic hiring forecasts. Only employers in Canada, the United States and Switzerland are reporting improved Net Employment Outlooks from three months ago.
Job prospects are decidedly less optimistic in the Asia Pacific region, with employers in all eight countries and territories surveyed reporting weaker hiring plans compared to the previous quarter and one year ago.
Although they are weaker quarter-over-quarter, the most favorable job prospects in the region are still found in India, Australia and China. The slowest hiring activity is expected in Singapore and Taiwan, where negative hiring expectations are reported.
So while the recession/downturn is having an effect, India is still the place to be. At least in Asia Pacific. Of course, these opportunities are not across sectors. Retailing, Construction and Real Estate will not be hiring in the same numbers. Generic BPOs will also be affected, but specific KPOs and LPOs would continue to thrive and even grow.
My good friend and Executive Search Consultant AK Menon has a detailed analysis of job openings in India on his blog post. And you can add this blog ,which his firm maintains, of great job openings - to your RSS reader.