Effect of American recession on students

This recession has adversely affected the life of students as this has led to the decrease in employment opportunities available for them. The companies have started cutting salaries and the jobs of their staff..
AMERICA THE so called developed country of the world is now responsible for the world’s recession. It has caused trauma to the entire world that will now take years to correct itself. The sub prime crisis that is the decrease in the prices of land was observed in the month of August 2007.And slowly it started affecting different countries economies which has led to the deceleration of the GDP of various countries. All this resulted in the bankruptcy of the biggest banks in the world and the fall of the European and World stock markets. This recession has adversely affected the life of students as this has led to the decrease in employment opportunities available for them. The companies have started cutting salaries and the jobs of their staff. As a very evident example we have Kingfisher which has cut the salary of its staff by a whopping 90 percent. This has worsened the situation and left a very large part of the work force without jobs. The fallout in the global banking and financial sector has left India’s premier B-schools with very few options. The unfolding credit meltdown, the demise of Lehman brothers and the declined status of i-banking stalwarts has left top IIM’s with fewer opportunities for its students to choose from. Earlier the students had whopping campus placements but now they are denied jobs even after completing their assignments. The turmoil that the American markets are going through has made a very bad impact on the economy of India as well. The Corporate sector, Aviation Industry, Hospitality Industry and the Banking sector are all witnessing bad times as a result of this and so they are cutting on variable costs and the sufferers are the students.