Dip in jobs in Chennai
Posted on: 10/Aug/2013 2:37:59 PM
According to the recent studies, it has been revealed that 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. 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.
