In 4 years IT sector will create 5.8 Million jobs

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By 2013 IT sector will generate huge jobs, nearly 5.8 million. According to consulting firm International Data Corporation (IDC), the IT industry will be an engine, powering economies out of economic doldrums, creating more than 75,000 new businesses in the next four years and adding jobs at a rate of three percent annually.

Microsoft sponsored the IDC research into the impact of IT in 52 countries that represent 98 percent of the global IT spending. “Countries that foster innovation and invest in infrastructure, education and skills development for their citizens will have a major competitive advantage in the global marketplace,” said Steve Ballmer, Chief Executive of Microsoft to AFP. “In this fundamental economic reset, innovative technologies will play a vital role in driving productivity gains and enabling the creation of new local businesses and highly skilled jobs that fuel economic recovery and support sustainable economic growth.”

Although, the future prospect in the job market looks promising, the impact of slowdown on the number of jobs created is overwhelming. The economic slowdown has resulted in a 40 percent drop in the number of jobs created in India last year. According to Business Standard, software service companies in India have been recruiting lesser number of people during the last one year. In the 36 software services’ firms studied, 69,430 people were hired in 2008-09, compared to 103,118 people that these firms hired in 2007-08.

IDC expects IT spending in the countries studied to grow at slightly more than three percent annually, three times as fast as the gross domestic products between now and the year 2013. In what is good news for software firms, spending on software is predicted to grow faster than overall IT spending, rising 4.8 percent annually. IDC estimates that cloud services could add $800 billion in net new business revenues between the end of 2009 and the end of 2013.