After a year of financial shock and sharp economic loss, 2009 is likely to be extremely difficult for the global economy. The trend is pretty negative. The collapse in the United States is different than in other industrialized countries around the world because the problems began in the financial sector and spread out into the broader economy. With the global melt down and fall in the financial market, the biggest hits are the emerging countries like India, Russia and Brazil.
India been home for the software engineers is finding hard to create jobs for its young passed outs from thousands of engineering college. More than that, experienced professionals also finding hard to survive in the current job market, “NEVER KNOW WHO WILL BE SACKED”
The current job seen in India is not very encouraging just like all over the world. If you see a few months ago the job market in financial and sector was in boom. Every student even before he graduated had an entry level jobs waiting for him. He got to pick and choose the employer depending o various factors such as salary, the perks offered to him, whether he will get offshore opportunities and of course overall job security that the job could offer him. But, now every company is talking about cost cutting. The better way they found is to cut no. of staff, and just have enough people who to do the work. So this created neither buffer staff waiting in the wings nor people waiting on the bench.
You might have read, some of the IT firms issued joining letters to the graduates have deferred from them. They asked them to wait till further intimation, as they haven’t got any new projects and staff on hand can easily handle the projects.
From the above, you can say that the job market in India and abroad is pretty competitive and more hard work is required from the student or graduates side. Where is the job opportunity for fresh graduates then? India is considered as a developing country in late 90’s as emerged one of the strongest nation in this decade and it has shown enough strength in terms of GDP and job growth rate in times of deepest recession hitting the world this year.
In the coming days believe, more jobs will be created domestically on life sciences, Biotechnology, education, Infrastructures and entertainment areas. On the out sourcing font the job market will be vibrant on the BPO and KPO jobs were the expertise and job pool is emerging. The cities to focus for the jobs will be Hyderbad, Chennai and Pune where the new captive are coming and expected recruitment in software, telecommunication, BPO, KPO and healthcare is approx. 1.5 million by 2010. Not only this, the new financial district is coming up in Hyderabad and huge construction activity by largest banks send a positive message to the young graduates that there is a growing prospects for the carrier in banking and financial sectors. As per the estimates there will be 2 lakh new job openings in the financial district by 2010.
Job depending on the domestic market is significantly growing in pharma, healthcare, and insurance and agriculture sectors. India visibly will be the future market for jobs in pharmacy and we can expect more outsourcing happening in this area.
On the whole we can say that the future of Indian job market will be vibrant with more fresher recruitments. The national unemployment rate may be at its worst in current circumstances, but there’s a world of opportunity out there beyond Wall Street. Companies from Finland to Dubai are bucking the recession and actively hiring, you just have to know where to look. Some regions are holding up better than others—Montreal, the largest city in the Canadian province is proving to be a hot bed for the video game industry, while the UAE is fertile ground for the airline industry. To aid your quest we made some ground work to uncover innovative companies around the globe that are bucking the downturn and actively hiring. Mobile phone giant Nokia is a household name for good reason: The Company expects to sell about 50 times as many phones as Apple this year. It recently released its first touch screen phone, which offers a music subscription service. Nokia currently has about 200 different jobs available at various locations around the world. They are looking for people to develop and deploy Internet based entertainment services such as music and games, social media apps, maps and navigation utilities, and communications services such as email, text messaging and instant messaging. A background in social media, digital music or online gaming is particularly useful. The brighter side of this information for you will be they are considering even professionals with no prior experience. Nokia recruits people straight out of college. So now the question is how to grab this opportunity, the company is open to help accepted candidates apply for work visas via HR professionals. Like Nokia there are many global players like Ubisoft of Canada, BMW of Germany, LEGO of Denmark, The Emirates Group of United Arab Emirates, Samsung Electronics of South Korea, Nestle from Switzerland are looking to tap the current downturn and grab as many as individuals from talent pool.
So dear job seekers, in this crucial time, you should be well prepared to enter into the job market and grab the opportunity which comes to you. There are many opportunities for fresh graduates in the industry, but it will be pretty competitive and it requires hard work.