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Q.

According to International Labor Organization (ILO) present global economic recession could claim 50 million jobs by 2009 end. Is it any indication that the present global crisis is more serious than we anticipate?

Asked by Good Citizen, 29 Jan '09 11:22 am
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Answers (6)

 
1.

If ILo 's predictaments are so very right , then why is the US is pumping 840 billions , Not that alone the market feels talk of June 2009 when the recovery begins to move and 22 months to pick up its natural momentum. In any case the core sectors remain un-affected since the guys who are holding on to investments , shall emerge soon - Bangalore as a cosmopoliton city is already on the recovery path from 1st week of Feb when the global Aero show kicks off and along with that other ventures do kick off . One thing is certain that gloom is likely to remain for the IT sector since US and other countries like to pass on the advantage to their own people and surplus may get passed on to a still cheaper country that' CHINA who have been long eyeing for their share.. If you can believe . people are being hired @ a package of 20 - 22 lakhs even today - age group 25 -26 , work experience 4-5 years. It is indicative of restlessness amongst investors who are so very keen to churn finances.
Answered by Raghavendra Presendra Sinha, 29 Jan '09 12:06 pm

 
  
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2.

We need to acess situation the way we observe.
In fact I never belive all such statistical data published by such internatioanl
organisations particularly in Indian context. It can be guideline but should not be
taken in absolute sense. Where are those companies who used to give rating to Indian Economy on international level? Why they couldn't forcast such grave situation for US? Many time data's are published either to mislead people or to favoure somebody else. It's a big eyewash.
Answered by arpana gandhi, 29 Jan '09 01:10 pm

 
  
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3.

Actually all countries economy has failed miserably but not visible simply
Answered by ashwani agarwal, 29 Jan '09 12:45 pm

 
  
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4.

Yes Sir, the situation is worsening more than we anticipated, Nath Sir told dat it will affect badly even though there will be Domestic demand........its like a Onion Sir, the more we cut the more we cry.....
Answered by PMDhanya Nair, 29 Jan '09 12:26 pm

 
  
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5.

Let us not get scared and panicky ,the figures includes all the types of jobs not specific,it is a natural effect of economic recession to shrink job potential.
Answered by venkatesaldevarajan, 29 Jan '09 11:36 am

 
  
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6.

The IMF and the World Bank, in their earlier releases, have stated that an end to the global economic woes will be insight towards the close of 2010. Our mandarins in the Finance Ministry are quite optimistic about a turn around in 2009 [ and they are free to come up with a revised estimate, anytime! ] I remember to have read somewhere that the current economic depression can be more grave than the great depression of 1929. May it prove incorrect !
Answered by thampy chacko, 29 Jan '09 11:29 am

 
  
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