Who is hiring in this economic recession?

Last week, Indian Government announced that around 500,000 Indians have lost their jobs and almost 25,000 have returned home after losing their jobs in US companies. Now job-seekers are in search of companies which are still hiring in this period of economic recession. Don’t you think it is silly question. Layoff announcements are piling up and unemployment numbers are reaching the sky but I am talking about companies which are still hiring. According to rediff, the leading Indian portal, India Inc’s hiring plans saw a marginal increase in January 2009, with the PSUs, telecom, banking, education and hospitality sectors showing a marked improvement. Other industries including legal, government and defence continued to see an increase in jobs.

Believe me, more than 60 per cent of companies in India are still hiring, and nine out of every ten companies are still giving promotions. Also, India is expected to see a salary rise of 8.2 per cent in 2009, the highest in the Asia Pacific region.

There are about 260 PSUs all over India. BSNL is going to hire 3945 Junior Telecom Officers. LIC has plans to hire 45,000 people this year. Most of the public sector banks like SBI, Syndicate, Indian Overseas Bank, NABARD etc. are hiring. Only SBI is going to hire to around 25,000 people in 2009. BPCL, which is one of India’s largest PSUs is planning to add more than 1000 engineers in next 2 or 3 years. No doubt, Indian PSUs are becoming the last refuge of job-seekers. PSU banking, insurance, petroleum, energy and construction companies are trying to expand their talent base as now large number of IIT, NIT and IIM graduates are applying for PSU jobs.