Regrettably, in disturbed economic period people rely mostly on recognized companies whether big or small. The traditional idea is that these companies or businesses are the reason for hope and more job creation. But in reality this is not the actual case. The reality is that, new jobs are created based on the age and not their size.

It has been recorded by the Central Bureau that most of the jobs created in the past were in companies which are quite young. Most reports released from the industries have indicated that the jobs are created in firms which are young and are hardly five years in age. So basically without new businesses coming up job creation would have been a distant dream for any economy for that matter.

There are innumerable new companies which are igniting job prospects all through the American economy. But there are instances also where numerous other fledgling companies in no way spread out or even take off from the ground for reasons like authoritarian and economic barriers. The small businesses do not have the freedom or the capital to create new jobs.

In support of this we can cite the examples of Kiva Systems and Diapers.com in America who were founded in the year 2003 and 2004 respectively and had managed to achieve a revenue growth which showed us a whopping statistics. The profit was achieved by these young companies even in the times of economic turbulence.  They current employment statistics is quite interesting which shows 120 people in Kiva Systems and 128 new ones in Diapers.com each year.

For instance, the consulting firms which took part in the summer placement at IIM-Bangalore last year have made an announcement of their PPO results and all the students have received PPOs. Some of these consulting firms include Boston Consulting Group, McKinsey & Co and Bain & co. According to Vineet Sharma who is the placement representative at IIM-Bangalore, “IIM-Bangalore is the only IIM with a 100% success rate till now.  While this speak highly about the institution as a brand, credit must be given to students and their calibre too. The success rate is actually better than last year’s.”

According to him, the positions offered this year differ slightly. Commenting on this, he said, “But, it’s on a par with an entry-level MBA position across the world.”

Like IIM-Bangalore, the students of IIM-Calcutta have also received offers from different sectors, including the FMCG sector. However, as far as the number of offers made is concerned, IIM-Calcutta refused to comment. Students have bagged several offers from international as well as finance sectors.

Likewise, IIM-Indore also started receiving PPOs from the middle of June. For the 2008-2010 batch of graduating students, more PPOs are pouring in from the finance and marketing sectors.

In June 2009, the job loss in the struggling economy of the US was about 467,000, which is much greater than the expected job loss. The jobless rate increased to 9.5% as compared to 9.4% in May.

According to the Department of Labor, the onset of recession in December 2007 has resulted in an increase in the number of people who are jobless by 7.2 million. Though the rate of unemployment remained slightly lower that what was expected, this rate was the highest rate ever since August 1983. The number of people being fired out from their jobs may be greater than expected simultaneously when the jobless rate is lower than the anticipated rate as their measurement is done in different ways.

Commenting on the high level of unemployment, President Barack Obama said he was indeed very much concerned about this matter and that something has to be done for creating more job opportunities .  Speaking to the Associated Press, he said, “We have successfully stabilised the financial markets,” and “started to see some stabilization on housing.” Commenting further, he said, “But what we are still seeing is too many jobs lost.”

According to Keith Hembre (Hembre), Chief Economist, FAF Advisors (Minneapolis), “The job market is terrible. It’s as bad as we’ve seen in our lifetime.” Commenting further, Hembre said, “The light at the end of tunnel is that we see some stability in domestic demand and some demand overseas.”

The overall software (IT) jobs are shrinking wordwide mainly in the US.

The IT jobs are expected to grow soon but not for all the fields of Information Technology.

Mainly tech support jobs will increase too some extent as per my perception. For tech support jobs the main demand for skills are network administration, server administration and desktop support.

If you want to stay employed in IT in this downward spiraling economy you need to look for some stable fields of Information Technology. There will be a slight increase in the jobs in some field of IT such as network administration, system administration, Software testing and quality assurance, database administration.  View This Poll

Here are some most essential skills(technical) that would be must required skills in the coming time.

1. Unified Communications – It is actually the merging of data and voice through some technologies(VoIP). High networking skills are very necessary when it comes to voIp.

2.Wireless - Wireless networking field will also incur huge growth in near future.

3. Web 2.0 – As it has become very necessary for every website to add some social applications so web 2.0 will go through a great growth cycle.

In the recent times the competition in IT sectior has reached to a very high level. As the number of IT professionals in different fields are increasing, the competition is also increasing in the same phase.

In order to cope up with the current scenario, apart from having all the latest technical skills, todays it professionals also should have good process and business knowledge.