The Impact of COVID-19 on Unemployment

Abstract

Since the beginning of the COVID-19 pandemic in China in early 2020, it has spread fast throughout the world, creating significant shocks to employment markets worldwide. For the study, this paper chooses six economies that are noticeable in global economic development and are heavily impacted by the spread of the epidemic: China, India, the United States, the United Kingdom, Japan, and Germany. The particular impact of the pandemic on the unemployment situation in each economy is examined, as well as the employment security measures and policies adopted in the country where employment is stable. By studying the employment situation in these six countries and examining the influence of COVID-19 on unemployment, this study aims to provide some experiential references for other developed and developing countries.