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How Bad is the Employment Situation Really?

Created by : Saurabh Chana Verma, HR Manager, 3i Infotech  | 10 31 2008 16:54:37 +0000
Industry : Communications and NetworkingFunctional Area : Talent Management(People Management)
Keywords : Job Future Really Employment Bad Situation
Activity:  213 views;  last activity : 07 06 2010 20:18:09 +0000
This past week showed unemployment rose another two-tenths to 5.7% in July. Companies are giving pink slip to employees. So, are things worse than what the modest rate implies?
 
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I think the employment situation is worse than what has been reported since much entepreurial work hasn't been counted. House flipping was a way for many to make an income but that has dried up. With the current financial condition getting worse everyday, getting jobs has become too difficult. With firms cutting on the number of employees, one can say that the employment situation is in a real bad level.
By Saurabh Chana Verma, HR Manager, 3i Infotech  10 31 2008 16:54:37 +0000
 
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I agree with you,but again it varies from sector to sector, in insurance and telecom sectors condition isn't so worse. Again its my personal view that some companies are also taking undue advantage in the name of recession, as they know the condition of job market, they are not filling the vacancies and existing employees are given more responsibilities to reduce cost.
By Mohan Murari, Marketing Manager, Confidential  | 07 25 2009 12:27:51 +0000
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Though the condition is bad, one can see that big companies are still looking for recruitment. May be the bargaining power now is on the hands of employer, but i don't think it will be that difficult getting jobs if you have true potential.

By Sanjay Bhandari, HR Manager, Capgemini  | 10 31 2008 17:03:09 +0000
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