Present uncertain & Future imperfect

This is to talk about the recent downturn in the job market. All over the world employees are being laid off or retrenched to salvage corporate lose in this time of great "global economic meltdown". India also could not completely get away from the ripple effect yet having a strong domestic demand. In the corporate diction profit is the last word.Some Private sector has earned name and fame for its good employee management programme, even they are bound to cut short their head counting even at the cost of their long lasting legacy of good employee relations. the situation is worse than expected. Many small firms have closed down their many units and stopped all its future recruitment for the lack of demand.Worst affected are mainly BPO, and IT industries, primarily dependent on the first world customers. The metal and cottage and many garment industries which used to supply good quality raw material to abroad are feeling the same heat of decreased demand. Comparatively the banking sector and some other home grown service sector are better off to handle this pressure thanks to good and timely policy change by the indian govt. So, under this unprecedented nightmarish situation in the world of employment can indian aspirer see some hope of change in their fortune?For the moment the situation at least in indian context is not so horrible and if the new govt take some positive and bold corrective measures the indian story can bounce back to its earlier boom in near future. So, as job seekers we can only hope against the hope.