Impact analysis of global COVID-19 crisis - a review

Vinay Kandpal

International Journal of Business Excellence, 2023, vol. 31, issue 1, 113-125

Abstract: The COVID-19 pandemic has a devastating effect, globally, on working hours and earnings. International Labour Organization (ILO) highlighted that some of the worst industries and regions affected and proposes measures to alleviate the crisis. The most at-risk sectors include accommodation, food services, manufacturing, retail, aviation, business and administrative activities. The eventual increase in global unemployment over 2020 would depend significantly on future developments and policy behaviour. There is a high probability that the end-of-year figure, of 25 million, would be substantially higher than the initial ILO forecast. Many countries have taken strong measures for controlling the unemployment issue and protecting the financial market.

Keywords: COVID-19; unemployment; financial market; economy; International Labour Organization; ILO. (search for similar items in EconPapers)
Date: 2023
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