Where have all the jobs gone?

Topic started by Raja (@ on Thu Jul 5 07:04:27 .
All times in EST +10:30 for IST.

It's the season of lay-offs in the economy as businesses of all shapes and sizes slash their workforces to survive the slowdown. More than a million jobs are redundant.There's a new target in the firing line of the economy. Jobs. Blue collar or white. Government or private. Jet-setting executive or shopfloor worker. Jobs across the spectrum of the economy are being shed at a rate unseen in recent economic history. The Labour Ministry's latest estimates show that total jobs in the organised sector of the economy (i.e., the large-scale industry) shrank by 0.15 per cent in 2000. That translates into a net loss of 45,000 jobs in just one year in large industries alone. Add to that figure the lay-offs in services (i.e. IT, finance, consultancy and many more) and the large-scale closure of small-scale industries, and the total number of jobs made redundant in the past five years touches a spine chilling one million. Where are we heading too......


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