The number of jobs created in India's IT sector has dipped by 46 per cent in the last quarter of 2008 over October-December 2007, with the Satyam episode further denting sentiment, according to a study.
In the third quarter of 2008, the sector has witnessed a whopping 484 per cent growth rate, industry body Assocham has said.
The study said in three sectors together – IT, financial services and hospitality -- the number of jobs created dipped by 38 per cent in October-December 2008 compared to the preceding quarter of the previous year.
In the July-September period, employment creation registered a growth rate of 124 per cent, while it posted 238 per cent rise in April-June, it said.
During October-December 2008, most of the sectors were reeling under the global recession, lack of demand, and credit crunch at the domestic front, which has adversely affected jobs growth.
"As the IT sector struggles to keep its order books intact, it has lost dominance and share in the job market. In the wake of recent incidents like (what happened to Satyam), the employment outlook in the sector stands bleak in the coming months as well," it said.
The study also said the financial services sector, including mutual funds, brokerage firms and investment advisory units, has been significantly affected by the global meltdown. Its growth dipped to 21 per cent during October-December as against 13 per cent in the third quarter.
Similarly, in the hospitality sector, job creation dipped by 43 per cent during October-December as against 157 per cent during July-September 2008.
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