NEW DELHI: The effect of the ongoing global slowdown on the Indian economy has now surfaced with the government admitting that nearly five lakh people had lost their jobs between October and December 2008.A survey conducted by the Labour Ministry, as part of a study on the effect of the economic slowdown on employment in the country, has revealed that nearly five lakh people had been rendered jobless in the last quarter of 2008, primarily due to contraction of demand in the economy.The survey, first of its kind to be undertaken by the government to study the impact of slowdown on job market, is based on a sample study of 2,581 manufacturing units spread across 11 states. Eight major sectors like textile and garment industry, metals and metal products, information technology and BPO, automobiles, gems and jewellery, transportation, construction and mining industries were also included in the survey. The survey alarmingly shows that total employment in all these sectors had come down from 16.2 million in September 2008 to 15.7 million by December 2008.
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