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Job security concerns see rise in June: Survey

The Indian economy maybe on the road to recovery but employment outlook remains weak, with as many as 52 pc of those surveyed last month pointing that there has been decrease in job security against 48 pc in May, research firm Boston Analytics said.

business Updated: Jul 14, 2009 12:21 IST

The Indian economy maybe on the road to recovery but employment outlook remains weak, with as many as 52 per cent of those surveyed last month pointing that there has been decrease in job security against 48 per cent in May, research firm Boston Analytics said.

"The job market in India has been sending some mixed signals in recent months. Sentiment related to job security on
an observed basis has fallen again in the last month, reaching its lowest level since August 2008," according to Boston
Analytics' monthly Consumer Confidence Survey.

"In the June survey, approximately 52 per cent of surveyed respondents observed (compared to 12 months ago) a
decrease in job security compared to 48 per cent in the May survey," it said.

Export-oriented sectors such as gems, jewellery, textiles and leather have seen large scale layoffs triggered by the
global economic downturn.

Sectors like information technology, construction, aviation, financial services and real estate that contributed
to India's nine per cent GDP growth also witnessed significant retrenchment, the survey said.

"On the expectations front, about 22 per cent respondents (surveyed last month) feel unemployment will decrease in the
next 12 months compared to 19 per cent in the May survey," Boston Analytics said.