Good news trickles in ... things aren't as bad as they seem!

News about companies cutting jobs in the West continues, the latest being Citibank. It is to cut 52000 or so jobs; 14% of its global workforce! But none yet in India is what it says.

There is slowdown in job growth in certain Indian sectors, and there is no denying that. But is the story in India as bad as it is in the west? Here are some statistics that suggest otherwise...

At a time when major financial institutions worldwide are announcing job cuts to survive, India's largest lender, the State Bank of India (SBI) said it would add 25,000 jobs this fiscal. Another national bank, Bank of India will hire 10,000 people over the next few months.

Accenture wants to hire 10,000 people by 2010, MetLife, a new private insurance company, will recruit 30,000 agents and 2,000 managers by March 2009. The top B schools in India, Indian Institute of Management (IIMs) have placed all their students for next year, top IT companies plan to hire 65,000 more this fiscal, the list goes on...

So where are the companies that are trimming jobs in India? These are the rapidly growing firms that are having to adjust to a 15% growth instead of the anticipated 30%, says a top financial planner in the country. Well, its still growth!

And the Indian economy? It is expected to grow between 7 and 7.5%. That is a substantial adjustment of 2% downwards. Well, it is still a much better growth rate that we had 4 years ago.

So then, is India a problem, or the solution? Some say its the later. There is news that Nottingham Chamber of Commerce, has had record numbers of export documentation in Sept and Oct, the've never been busier. Export oriented companies are hiring in the UK while several British businesses are cutting jobs owing to low domestic demand.

All in all, good news for the Indian jobseeker! myJobsinPune.com and myHyderabadJobs.com, two leading city centric jobs sites in India continue to see local jobs being added on the sites every day...