ABSTRACT
The Great Depression occurred in the early 1930s. A financial crisis in the world market usually takes place once in each decade. The one that occurred in 2008 has definitely been one of the most important in terms of its severity in recent times. During the crisis, economies slowed down their growth and other macroeconomic performance substantially, leading to a loss of jobs in the labour market. Although the world economy emerged from this crisis after a year, it is now important to investigate how adjustment has been made in the labour markets of the developing world. When economic growth swings towards recession, it must have an adverse impact on total employment and its nature. We are interested in investigating the impact of the 2008 financial crisis on the labour market in India.
