Published June 30, 2021 | Version v1

The COVID-19 and its Impact on Global Employment

Authors/Creators

  • 1. Business and Management Department, MCBS, Oman

Description

The purpose of this paper is to consider the influence, scope, limitations, barriers, and challenges imposed on employment by the existing condition brought on by coronavirus 2019 (COVID-19) health crisis, along with the potential consequences. An in-depth literature review was conducted of the current COVID-19 crisis, along with similar pandemics in recent history, and the effect of such events on global employment, unemployment, and economic activities. The research focus  is primarily on the impact of COVID-19 from January to May 2020 , i.e. the first months  of global awareness of the threat posed by the virus In January 2020, the increasing number of COVID-19 infections resulted in orders to stay-at-home or observe social and physical distancing restrictions, which subsequently led to the shutdown of industrial production, financial markets, corporate offices, businesses, events, and different operation management activities in order to minimize the transmission of the virus. The findings suggest that the increasing number of lockdowns and restrictions on national and international travel by air, land, or sea, as well as the shutdown of production, operation, and marketing activities jeopardized and even collapsed some economic sectors and systems. Consequently, worldwide unemployment increased drastically, in regions like the United States, Europe, and the Arab States. A sudden rise in worker migration further aggravated the situation and placed an additional burden on state government entities. It is likely that it will take years for the global economy to recover from the economic and employment challenges brought about by this crisis.

Notes

COVID-19, social distancing, pandemic, financial crisis, global recession, public health, employment, unemployment.

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