Challenges in IT industry

IT industry is experiencing a great downfall in the recent times. Companies have reduced their placements and they have started packing up employees in different places. The US market is very volatile and there is no stability in the economy as there is a slowdown in all the economic aspects of the country. There is a fallout of subprime and credit crisis on banking and retail services. Oil prices have continued to soar and it has caused a huge impact on the IT industry. The inflation rate has increased to a great extent and inflationary pressures are piling up day by day. A fall in the operating margins proved to be very tough for IT industry. Talents are in short as they require highly experienced people to tackle the current crisis. Adding fuel to the fire are the protectionism threats that exists ahead of the presidential elections in US.