The growth of jobs created in India''s IT sector has fallen by 46 per cent in the last quarter of 2008 as against the quarter ended December 2007, with the Satyam case further denting the sentiment, according to a study. The sector during this period has witnessed a growth rate of 484 per cent growth rate, industry body Assocham has said.
The study said in October-December 2008, in three sectors together - IT, financial services and hospitality, the number of jobs created fell by 38 per cent as against preceding quarter of the previous year. While on the other hand, employment creation registered a growth rate of 124 per cent in the July-September period, while it posted 238 per cent growth in April-June. However, most of the sectors during October-December 2008 were reeling under the global recession along with the lack of demand, and credit crunch at the domestic front, which has adversely affected growth of jobs. Apart from this, in the wake of recent Stayam incidents, the employment outlook in the sector stands bleak in the coming months as well.
The study also said that not only this sector but also the financial services sector, including mutual funds, brokerage firms and investment advisory units, has been significantly affected by the global meltdown. During October-December, its growth dipped to 21 per cent as compared to 13 per cent in the third quarter.
The study said in October-December 2008, in three sectors together - IT, financial services and hospitality, the number of jobs created fell by 38 per cent as against preceding quarter of the previous year. While on the other hand, employment creation registered a growth rate of 124 per cent in the July-September period, while it posted 238 per cent growth in April-June. However, most of the sectors during October-December 2008 were reeling under the global recession along with the lack of demand, and credit crunch at the domestic front, which has adversely affected growth of jobs. Apart from this, in the wake of recent Stayam incidents, the employment outlook in the sector stands bleak in the coming months as well.
The study also said that not only this sector but also the financial services sector, including mutual funds, brokerage firms and investment advisory units, has been significantly affected by the global meltdown. During October-December, its growth dipped to 21 per cent as compared to 13 per cent in the third quarter.
No comments:
Post a Comment