In the absence of job opportunities in government as well as in the private sector beside lack of support systems to form the industries, the ratio of unemployment in the old city of Hyderabad is increasing by leaps and bounds.
The cherry on the top is that the people from foreign countries, especially from the middle-east are returning back home after losing or leaving their jobs due to various reasons. The present pandemic situation, which has shaken up the entire world, is said to have been one of the primary reasons behind the increasing unemployment in the old city.
This has even led to tough competition in the job market here in the city as more aspirants especially those, who have returned from foreign countries too have joined the list in order to get better placements.
More concerning are the instances wherein many youngsters especially professionals are expressing eagerness to settle down abroad soon after completing their studies or middle of their academics as they are very much upset by the present economic state and the prevailing situation in the country more specifically in Telangana state that hinting towards move catastrophic economic doldrums.
“Competition in the job market has increased many folds post lockdown as applicants from IT and non-IT industries besides those returning from foreign countries especially from middle-east and East-Asia have now joined the list turning the situation more challenging than earlier,” informed Dr.Babar Zamaan, Associate Director Aspratech Consultants, Hyderabad.
“Majority of aspirants, he said, are from the non-IT sector followed by employees of IT companies who have lost their jobs recently after the outbreak of coronavirus and subsequent lockdown.
“Out of 500 applicants keen to move abroad through our consultancy, 300 have registered their names last month expressing keen interest in settling abroad for a better life. No better job opportunities, less scope for doing business, financial impediments in doing ease of business are some of the factors that are forcing youngsters to explore a better career and life away from home,” he added.
“As the distressed aspirants of foreign countries who returned to the country after losing jobs to have joined the list, the scope of suitable jobs in the market getting shrink with more and more companies are resorting to job cut due to failure in bagging projects from main players,” explained Dr.Babar Zamaan, also a member of Professionals Solidarity Forum (PSF), a platform that plays a liaison role between the professionals exploring better jobs options and the area of opportunities.
“While medical aspirants have weighing options to move out to foreign countries in order to pursue medical courses as well as better future, the IT and non-IT candidates too are finding it difficult to get the suitable jobs in the city as the number of competitors have increased in recent days limiting the scope of opportunities to maximum,” Nagesh Kumar, Executive, Globetrot a city-based overseas consultancy.
