CrescoHR Pvt Market Share Analysis for июль 2026

Mounting Job Losses amid Pandemic Crisis Its not business as usual. The outbreak of COVID-19 and the subsequent lockdown has led to an unprecedented situation,impacting individuals, families and society at large. Apart from the loss of valuable human life and widespread health concerns,the global pandemic has created a shake-up in all spheres of life.It has negatively impacted all sectors of the global economy. The world of work certainly won’t be the same again. The International Labor Organization (ILO) has estimated that globally more than 25 million jobs would be threatened due to the spread of corona virus. Back home in India, the situation is equally alarming. With industries (both large and SMEs), commercial establishments, corporate offices and private enterprises almost shut down, the number of people getting the pink slip has spiraled since the lockdown was imposed. The downslide in the job market began since end of March, when most companies have either started laying-off people, asking employees to go on indefinite leave without pay or curtailing their salaries ruthlessly.   Global investment management firm Goldman Sachs and the World Bank have predicted the world economy could witness a negative growth of up to 3 per cent, and India to grow at a mere 1.5-1.6 per cent. However, since India has a huge domestic demand, growth may “remain static”, which will hover around 4% to 5%. Nevertheless, the scenario is gloomy: As per the figures cited in the report released by the Center for Monitoring Indian Economy (CMIE), India’s urban unemployment rate soars to 30.9%, even as the overall rate rises to 23.4%. A survey has found a vast majority of the citizens - 86 per cent of those polled to be precise - are worried about losing their jobs and livelihoods due to the deadly COVID-19 pandemic. Real Estate, Engineering & Capital Goods, Tourism and Hospitality sectors are the worst hit segments.