NEW DELHI: There could have been no worse start to a year
than 2009 for the job market, but as the days passed by hope sprouted from the
ashes of millions of jobs killed during the recession.
With the financial crisis ebbing, the pace of vanishing employment has come
down in recent months as against an average of a whopping 9,000 job losses
daily in the beginning of this year.
The nomenclatures for giving pink slips took different names with a few calling
it just layoffs and terminations, while many others stuck to descriptions like
right sizing and voluntary separation packages.
Moreover, cost saving measures and slump in demand were cited as the reasons by
companies for resorting to laying off employees. Cut to the present, reviving
economies are slowly reversing the trend of job cuts.
Better growth numbers especially from the developed nations like the US and
Japan, seem to have helped in improving the sentiment in the employment market.
For instance, after hovering at a 26-year-high of 10.2 per cent, the American
jobless rate slipped to 10 per cent in November.
Reflecting the improving sentiment in India, the International Labour
Organisation (ILO) has reported that as many as five lakh jobs were created in
the third quarter following the government's stimulus measures.
Posted By : Sumit Pradhan
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