Proceedings of the International Conference on Application of AI and Statistical Decision Making for the Business World, ICASDMBW 2022, 16-17 December 2022, Rukmini Devi Institute of Advanced Studies, Delhi, India

Research Article

The Massive Impact of the pandemic on unemployment

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  • @INPROCEEDINGS{10.4108/eai.16-12-2022.2326188,
        author={Radhika  Thapar and Harjas  Kaur},
        title={The Massive Impact of the pandemic on unemployment},
        proceedings={Proceedings of the International Conference on Application of AI and Statistical Decision Making for the Business World, ICASDMBW 2022, 16-17 December 2022, Rukmini Devi Institute of Advanced Studies, Delhi, India},
        publisher={EAI},
        proceedings_a={ICASDMBW},
        year={2023},
        month={2},
        keywords={coronavirus covid-19 unemployment economy losses poverty inequality jobs livelihoods},
        doi={10.4108/eai.16-12-2022.2326188}
    }
    
  • Radhika Thapar
    Harjas Kaur
    Year: 2023
    The Massive Impact of the pandemic on unemployment
    ICASDMBW
    EAI
    DOI: 10.4108/eai.16-12-2022.2326188
Radhika Thapar1,*, Harjas Kaur1
  • 1: Rukmini Devi Institute of Advanced Studies, Delhi, India
*Contact email: radhika.thapar@rdias.ac.in

Abstract

To stop the Coronavirus from spreading, India went under lockdown in March 2020. Numerous people lost their jobs due to the ongoing office closures caused by the lockdown. Employment and wages are severely impacted by the COVID-19 pandemic, both in India and worldwide. Due to this, economic activity was significantly affected, which also raised the unemployment rate. This paper reviews the Impact of Covid-19 on rising unemployment. The study employed factor analysis to test the proposed framework. This research additionally recognized that due to increased unemployment during COVID-19, the comprehensive Indian economic system has deteriorated. Furthermore, now there is a need for the Government to do everything it can to stop this unemployment/job crisis from becoming a social problem.