Lesser jobs this year in Chennai

CHENNAI: Chennai has witnessed significant dip of over 21% in new job generation during the first quarter of FY 14 mainly due to closure of small scale industries (SSIs) on account of the power crisis. "A total of over 8,000 new jobs were generated in Chennai during the first quarter as against over 10,200 new jobs created across the city during the corresponding period last year," according to survey conducted by Assocham (The Associated Chambers of Commerce and Industry of India).
The industry body tracked data on a daily basis for vacancies posted by over 3,000 companies on various job portals, advertisements in job supplements of national and regional dailies and news journals across 32 sectors offering employment opportunities.
"The main reason behind the dismal job scenario is closure of about 25% of small and medium enterprises (SMEs) mainly due to power shortage. That apart, there are number of other factors like global economic slowdown, decline in industrial production and high inflation," DS Rawat, national secretary general, Assocham said. "The hiring activity across sectors is likely to remain subdued even during the second quarter of the current fiscal as uncertain economic conditions are likely to persist but the industry is hopeful that job market will pick up by the end of quarter two," he added.