LayoffBlog.com

February 5, 2009

500,000 jobs lost in three months in India

The global meltdown and the consequent slowdown in the Indian economy took 5 lakh [500,000] workers off factory floors in the last three months of 2008, the labor bureau announced today after a study that covered 2,581 units.

The study reveals that between October and December last year, 5 lakh workers have lost jobs in sectors like textile and garment, metals and metal products, automobiles, gems and jewelery, transportation, construction and mining industries.

However, according to the study, IT and BPO increased employment rate marginally by 0.33 per cent, which does not match popular perception. As the entire sample covered 2,581 units, the number of IT companies could not have been too high and the finding is unlikely to mirror the full picture.

Source: The Telegraph Calcutta

6 Comments »

  1. India with its 2008 population of 1.147 billion lost in three months the same number of jobs the US with 303 million population lost in 1 month. It sure seems like the Indians are doing a lot better than the US. Putting this in perspective, the US lost jobs at a rate relative to population of greater than 10 time the rate in India.

    Comment by Cee — February 5, 2009 @ 10:41 pm | Reply

  2. Great post. I found details of layoffs in India on Toostep com.
    You may want to check it out: Indian Layoffs

    Comment by Surendra Sinha — February 5, 2009 @ 10:45 pm | Reply

  3. #2: interesting data. thanks for sharing!

    Comment by DF — February 5, 2009 @ 11:52 pm | Reply

  4. #1: By repeating sugar, sugar, sugar, the tongue cannot taste sweetness

    Comment by Art — February 10, 2009 @ 3:15 pm | Reply

  5. Intresting data.Sectors other than IT are worst hit by this recession.Particularly share traders have lost their jobs considerably.

    Comment by sap jobs — February 10, 2009 @ 9:49 pm | Reply

  6. #5: how’s SAP -related industry doing these days?

    Comment by DF — February 10, 2009 @ 9:55 pm | Reply


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