Saturday, December 26, 2009

Sharp employment increase in India!

The year 2009 saw loss of jobs all over US and Europe. India was not hit by the recession as hard as US but it also went through a phase of stagnation in term of employment opportunities. The new openings were very very rare throughout India in the first 3 quarters of 2009. But as the clouds of recession seem to be clearing ( or at least everyone feels that way..) Indian companies have again started hiring in bulk!

The retail industry, metals and manufacturing industry along with IT has seen a wave of new job openings in the past 2 months. The stabilizing of retail industry in US is aiding the textile industry in India to win some orders and thus is also making some significant hiring. In the previous quarter the textile sector witnessed maximum loss of jobs of about 1.52 lakh followed by IT which was around 0.38 lakh. 

It is expected that India will have about 5 lakh+ job openings in the first quarter of 2010 itself. And year 2010 will be opening new jobs and added perks to the people who are already in jobs. More jobs in the economy drives everything as more jobs means more work and more work means more profitability!