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Economic crisis takes its toll of jobs

11
Aug '09
The unemployment estimates for the first quarter of the fiscal year beginning April 2009 are not so optimistic. The Labour Bureau estimates that hundreds of thousands of people have lost their jobs in the period.

The worst affected sector was the textile industry which has shed 154,000 jobs followed by IT/BPO sector with 34,000 jobs and the gems and jewellery sector with 20,000 job losses.

Employment was the worst hit in exporting companies across all sectors with losses touching 167,000 jobs. At the same time employment opportunities to the tune of 35,000 were created in all but three sectors.

In the period October-December 2008, the hit was the highest across India with nearly 500,000 workers loosing their jobs.

Fibre2fashion News Desk - India


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