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New IT jobs down by 25%

December 30, 2008

Hiring slows down

There is more bad news for job seekers. A study by, states that the Overall Job Index in October 2008 is 781 as compared to 1000 in July 2008 indicating a decline of almost 21.9 per cent.

Historically, there is a seasonal decline in October which is around 10 per cent as recruitment slows down due to the festive season. The index suggests that companies are scaling back their recruitment plans due to the global financial crisis.

The IT sector has been hit badly by the slowdown. Both the software and hardware sectors have witnessed a dip in new jobs by almost 25 per cent since July this year. Read on. . .

Image: A view of an IT park in Chandigarh. | Photograph: Reuters/ Ajay Verma

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