A STUDY ON IMPACT OF COVID-19 PANDEMIC ON UNEMPLOYMENT IN INDIA
Sharyu Gandhi, Madhav Jindal, Sarvesh Mahalle
Student , SVKMs Narsee Monjee Institute of Management Studies Deemed to be University, Bengaluru
Unemployment is a serious problem which is being experienced by most of the countries throughout the globe. Unemployment is like a giraffe which is easier to make out than to describe. The crisis of unemployment has been in existence for a long time. Nevertheless, in the developed nations it was experienced in its severe form at the time of the great depression (1930s) while in the developing nations it was after the Second World War (1945). The past few years, there has been a slowdown in the growth of employment in India despite the boost in the economic sector. At the same time due to this COVID-19 pandemic lockdown, there had been a devastating effect on the unemployment rate in India as most of the private companies have fired their employees. The main sufferers of this lockdown are the informal sector employees as the majority of them started losing jobs since construction works were closed. With no capital, thousands of people deserted cities, marching to their homelands for several hundreds of miles away in the absence of government transportation, which showed their intensity of anguish. This paper aims to delineate the impact of COVID-19 on unemployment in our study area. For analyzing this research we mostly relied on secondary data collected through books, journals, newspapers, authentic internet sources, etc The outcome of this research will be helpful for academicians, researchers, and policymakers in related studies.
Keywords: Unemployment, COVID-19, lockdown, employees, informal sector
Journal Name :
EPRA International Journal of Economic and Business Review(JEBR)
Published on : 2022-11-21