@asd: "from "The Week" May 19, 2006, page 9, a quote:
"More than half of chinese students who graduate from college this year 
will be doomed to unemployment, the Labor Ministry said this week. The 
number of grads has been steadily climbing in the past few years, even as 
job creation slows. In the second half of this year, 4.1 million people 
will finish university, but there are jobs for only 1.7 million of them. 
India, another emerging giant, may soon face a similar shortage. 'The 
outlines of an Asian employment crisis are already taking shape.' said 
Ifzal Ali, cheif economist of the Asian Developement Bank/ 'Asia's succes 
will sooner or later be eclipsed by the pressures of a huge reserve army 
of unemployed.'"
-
another cite and source:
Subject: Jobless Indian Doctors Become Medical Transcriptionists
    <url>
    No job for doctors? Take an MT dose- The Economic Times
    No job for doctors? Take an MT dose
    LAXMI DEVI
    INDIATIMES NEWS NETWORK [ WEDNESDAY, SEPTEMBER 07, 2005 01:38:37 AM]
    It seems that doctors are having a tough time in Bangalore. There has
    been a growing number of doctors who are jobless. And their only
    respite are the medical transcription (MT) companies that have
    sprouted across Bangalore. And these doctors are working for a
    pittance - sometimes as low as Rs 5,000 a month.
    Vinay P Bhat, a 25-year-old dentist started his private practice in
    Bangalore soon after completing his graduation. But his clinic didn't
    do well and he had to look for a job to sustain. "Now, I take medicine
    classes in Lake Systems, an MT company and simultaneously run my
    private clinic," says Bhat who works in shifts for three to four hours
    a day and earns Rs 10,000 a month.
    At least Bhat is quite content with his teaching in the MT company.
    But Debiprasad, a middle-class MBBS doctor, who works as a medical
    transcriptionist, feels, "This job doesn't need doctors. A graduate in
    any discipline can make it. To be a transcriptionist, an aspirant does
    not require a medical degree; the primary skills required are good
    listening and language aptitude and knowledge of medical terminology
    ." Debiprasad earns Rs 8,000 a month.
    Nevertheless, today MT companies seem to be the only hope for jobless
    doctors in Karnataka. The irony is rather than serving India's large
    population; they are transcribing and assisting US doctors! Doctors
    working in MT companies have to transcribe history and physical
    reports, clinic notes, operative reports, consultation notes,
    discharge summaries, psychiatric evaluations, x-ray and pathology
    reports.
    Many senior doctors opine that such plight is due to over-crowding in
    medical and dental fields in the state. Those with a post-graduation
    degree still have a future and can survive the competitive market. But
    plain medical graduates have little chance of getting a decent job.
    Manikantan completed his BDS last year and is now working for just Rs
    5,000 a month. Says he, "After stepping into the field, I realised
    what pittance doctors are paid compared to IT professionals." And
    Sridevi who had dreams to be a dentist is now transcribing a US
    doctor's reports in one of leading MT companies in Bangalore.
    Suresh Nair, CEO and managing director of Health Scribe and president
    of Indian Medical Transcription Industry Association (IMTIA) says,
    "Most of the MT companies do hire doctors at small percentage. Like in
    Health Scribe the first MT company to start in India has 80 doctors
    out of 18,000 employees. Most doctors take up MT job because of the
    money."
    "The dental field is more saturated than the medical in Karnataka,"
    explains J T Venkateshaiah, a senior doctor. The state has 42 dental
    and 32 medical colleges, the highest in the country (see list below).
    Bangalore itself has 10-12 dental colleges that churn out 700-800
    dentists every year.
       State             Medical colleges       Dental colleges
       Andhra Pradesh    31                     17
       Assam             03                     01
       Bihar             08                     07
       Chandigarh        02                     00
       Chhattisgarh      02                     04
       Delhi             05                     01
       Goa               01                     01
       Gujarat           13                     07
       Haryana           03                     09
       Himachal Pradesh  02                     05
       Jammu & Kashmir   04                     01
       Jharkhand         03                     00
       Karnataka         32                     42
       Kerala            15                     12
       Madhya Pradesh    08                     08
       Maharashtra       39                     22
       Manipur           01                     00
       Orissa            04                     03
       Pondicherry       05                     01
       Punjab            06                     11
       Rajasthan         08                     09
       Sikkim            01                     00
       Tamil Nadu        22                     16
       Tripura           01                     00
       Uttar Pradesh     13                     23
       Uttaranchal       02                     00
       West Bengal       09                     03
    With the number of doctors and dentists burgeoning every year and job
    avenues shrinking, these professionals are looking towards the MT
    companies as saviours. Things are not easy though. "The `doctor' tag
    will not help you while applying for MT job. It doesn't make any
    difference if you are a doctor or not. Of course a doctor is familiar
    with medical terminology, otherwise it purely depends on his/her
    writing and hearing skills," says Vedashyam, a medical graduate, who
    is undergoing MT training.
    According to estimates, India has 300 MT companies and out which 30-40
    are in Bangalore and the major players include Health Scribe,
    Heartland and Focus DTS among others. The industry experts say that
    Karnataka has the largest number of MT companies in India next only to
    Andhra Pradesh. With the expected growth in the US medical
    transcription industry to touch $77 bn by 2008, the Indian market is
    slated to see a surge in the transcription-based companies. And the
    way things are going the new set-ups may be manned by medical
    practitioners."
    @ajv2003: "<quote>
The cream rises to the top. With outsourcing of research labs in full swing 
many more will find employment. Like you say these well educated can make 
for a smarter Army. Compare that to the US Armed forces."
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