Less jobs created in IT, hospitality, financial services: Assocham

January 22nd, 2009 - 6:07 pm ICT by IANS  

New Delhi, Jan 22 (IANS) Job creation dipped 38 percent in three critical sectors in the quarter ended December 31, 2008, an industry lobby report released Thursday said.The Associated Chambers of Commerce and Industry of India (Assocham) said job creation in the financial services, IT and hospitality sectors dipped 38 percent between October-December 2008, compared to the previous quarter, and predicted the situation would continue to be “bleak” in 2009.

It noted this has been the trend this fiscal. Job creation grew 238 percent in the April-June 2008 period, and 124 percent between July and September.

“Continuation of this trend for a longer term may wash away the benefits generated from the four years of above-8 percent growth,” Assocham said.

“As the IT sector struggles to keep its order book intact, it has lost its dominant and share of the job market. In the wake of recent events such as Satyam, the employment outlook in IT sector stands bleak in coming months as well,” the chamber said.

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