What does unemployment around you look like? Or if not around us, for people trying to come out of Tier 2/3 towns. These mass recruiters (behemoths like Capgmeni & Cognizant + TCS Infosys) are actually the gateway for many into a city life. In the absence of it, it's scary to think what they're up to.
The new generation would rather be jobless than accept a job offer that pays š„š„ (3 lpa). It is scary, but it also gives these corporate companies a chance to pay better.
We probably will see an unprecedented economic divide in this country going forward if the unemployment rate stays this high. And we know for a fact the government has tried to suppress this number to paint a rosy picture
Even if you bring the most honest and competent government, our economy will collapse one day in near future. Overpopulation and unplanned families are root causes of most of our problems.
@BearMoody As a libertarian, it certainly looks so to me, too. Do we have some data to back that claim up though?
History might give the answer, 2008-09 saw similar stories. May be finding in past can help answering this question.
IT firms wanted to normalise single digit appraisals and 20-40% hikes in lateral hiring. Additionally, less IT spending in US/Europe impacted the job market as well. It always happen in some shape n form in every 4-5 years. When this downfall ends you will again see jump in hiring and companies finding it hard to retain employees. Till then focus on your skill set, stay away from social media as it will make u lazy, focus on your health and be patient.
People like u r blessings in this negative world
Every profession has a surge in demand and then a saturation point. Is this happening in IT as well? I also think the colleges/ Universities will have to focus their syallabus more towards AI/ as per the changing industry demands etc.
I donāt think itās about AI honestly. Itās just a supply vs demand issue as simple as that. People have overhyped ai like anything. Students need to understand that now they would have to be in that Top 5% category to get a decent job simply because of the competition.
Relax guys. 1.5L less hands means only 75k less people
Sorry, had a bad day at work, so kinda just went all pessimistic with shit.
Modi hai To Mumkin hai š¹š
Very few get into IT out of passion for it. Maybe they will end up where they are suppose to. Or maybe theyāll resort to gambling or such. Your guess is as good as mine. On a macro level it will surely reduce number of consumers.
Even if someone gets a job, not possible to work beyond 35 years for majority of workers as every company wants max 5 years of experience.
Liabilities and high interest loans rising, household savings falling. It's a very worrying statistic if people are borrowing money just to stay afloat.
Correlation is not causation, less savings doesn't imply there's no money with people, it could very well be increase...
Good to see 13 lacs+ Jee aspirants even amidst news of tech recession and what not.
If we assume 15M+ strong tech Workforce of India then 1M is knocking the door šŖ every year.
šÆ% scoring in boards exam to exam like JEE, few alfa stil...
The Financial Reset aided by Dedollarization and hyperlocalization is around the corner. We are already seeing massive layoffs in Tech, no money to fund start ups and AI leading to huge financial distress forcing for a huge wage revision...
Folks working in NCR, have any of the companies started extending remote work options until conditions are livable?
A lot of people are deciding to move out of Delhi NCR as it has become a gas chamber, especially those with toddlers. Th...
