Article : Consequence Of Economic Melancholy On Employment In India

Title

Consequence Of Economic Melancholy On Employment In India

Author

Dr. Md. Shabbir Alam, Tanushree Gupta

The economic melancholy causes a downslide trend in demand of the finished goods in the domestic as well as intercontinental market which eventually results in the loss of job. The banks are facing huge loss due to sub-prime catastrophe. The financial conditions of many banks are in a predicament. The economic slump which started in USA in December, 2007 spread all over the world. The Indian economy is also affected due to economic recession in USA since most of the international business of Indian subcontinent is with United States or European countries. Due to the economic recession, lakhs of people lost their jobs. The study is focused on the effect of economic recession on employment scenario in India and its critical analysis. The data has been collected from secondary sources. The analytical research methodology is used to make a critical analysis of the available data. Present study concludes that due to economic recession lots of people either lost their job or their compensation is shrinked. The employment scenario is same in almost all the industries. The capacity utilization of organizations shows a negative trend in comparison to previous years.

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