WORKING OR WORKLESS POOR: THE EFFECT OF PANDEMICS

Iglika Slavcheva ()
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Iglika Slavcheva: University of Economics – Varna, Bulgaria

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 129-137

Abstract: Emerging at the end of 2019, COVID-19 rapidly spread among the whole planet, challenging both health care systems and the economy. Most activities were halted due to the outbreak. Consequences are yet to be estimated, though most analysts predict a global economic crisis. Historically, the working poor is among the most vulnerable social groups. With most businesses cutting-off wages and employment, less qualified and poorly educated people face higher risks of unemployment. Moreover, this group relies mainly on monthly income and has small or no savings. Hard times could provoke wrong decisions and such people are often forced into the whirlwind of the shadow economy. The paper highlights the possible outcome for the working poor and suggests policies for reducing the negative impact of the global recession.

Keywords: working poor; COVID-19; pandemics; poverty (search for similar items in EconPapers)
JEL-codes: E64 I32 I38 J21 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:129-137

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