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| The job market sinks as downturn dents business. The Economy has begun the New Year firmly in grip of a downturn and the job landscape is littered with freezes. The bad news—don’t expect a respite for the next two quarters, at least… |
Additional Information
Executive Summary: As uncertainty on the jobs front deepens, cutback in household spending will rise. If consumers curtail more expenditure, business sales and earnings shrink further. The collapse in profit margins and lack of demand will force companies to freeze hiring or even implement lay-offs. This becomes a vicious cycle. And India Inc. is in the midst of one as the Business Today-TeamLease Employment Outlook Survey (January-March 2009 quarter) indicates…
In the survey, the Net Employment Outlook (the difference between the percentage of respondents reporting an increase in hiring and those expecting a decline) stands at 34 per cent, a drop of 30 index points from the last quarter and a drop of 46 index points compared to this quarter last year. Spread across eight cities—Mumbai, Delhi, Bangalore, Kolkata, Chennai, Pune, Hyderabad and Ahmedabad—the survey drew responses from 492 companies…
