Reason for Another Recession in US:
Recent Economic Crisis in US Made, USA’s Credit Rating to dip a lot. For the first time in the history USA lost it’s “AAA” rating which leads to severe effect in the IT Industry hiring in the India. According to the latest news, One fourth of the IT Recruitment might be down in India. It may take that almost 6 months for this situation to recover and get to the normal conditions.
The Turn over of the Indian IT Industry is almost $60 billion in which US accounts for almost 60% of the revenue. So it seems realistic that there will be one more recession in US and the IT hiring in India is ready face it’s effect. So a Bad News for Indian IT Freshers and we should all hope that the effect of recession in India should be as low as possible.
Original Source: Times of India