ET Poll – “Nobody is hiring – IT, Manufacturing, Infrastructure, Construction, Gov”
According to TV Mohandas Pai, who joined the IT services giant in 1994, and is now chairman at Manipal Global Education – “I haven’t seen anything like this in my career since my early Infosys days,”. He further says “Nobody is hiring — IT, manufacturing, infrastructure, construction, government…nobody. Job seekers are despondent. They are losing hope.”
India, the world’s 2nd most populous country and home to the world’s 2nd largest workforce of 469 million workers. The ongoing economic slowdown and the accompanying woes — rising inflation and interest rates, a weakening rupee and stalled investments are affecting job prospects. The poll also concluded that this is the worst job market since liberalization in terms of severity, duration, sweep and scale.