We all know due to recession the job market and major hiring companies are minimising employees. Can we think now this condition is stable.

Recession?

Its more like inflation going on!
See how the practical prices of goods have increased by leaps nd bounds these years.
Grains, cell phones, Cars, Computers, Clothes... All became expensive!

I would say that its over but after effects are there.

there was no recession in India, it was just a correction of the overreaction of market trends.
we can say it was a meltdown rather than recession.

I agree with the following post:

there was no recession in India, it was just a correction of the overreaction of market trends.
we can say it was a meltdown rather than recession.