The world, in the middle of the pandemic, is also seeing a terrible economic crisis. Many have lost their lives; many other have lost their jobs due to the COVID-19 disease. Low strata income groups and places are most impacted and are still vulnerable because of the Corona pandemic. The lockdown worked in controlling the spread of the COVID-19 disease, but has wreaked havoc on the economy and on the lives of common people. There are countries where people are dying of starvation as there is no income, indirectly because of Corona. Governments have taken action and ensured necessities are provided, but those who are stranded and have limited savings and almost no resources have been the worst hit.
Even as the lockdowns ease in various parts of the world, it will be a while before the countries are fully up and running, business as usual. Furloughs, temporary and permanent layoffs, salary cuts and reduced hours, have been noticed in all sectors of the workforce, with travel and tourism being one of the worst hit. Most companies have offered work from home to their critical staff, while the rest of the working population were asked to sit at home with nothing much to do.
With the economy impacted globally, trade and commerce to a halt, every sphere of business has taken a jolt of the Corona virus disease. More than the loss of jobs, the panic and anxiety it has created among the people has created significant ill effects on the communities as a whole. Only the essential and critical workers and those in the healthcare sectors have continued working as nothing has changed for them. Retail and wholesale sectors saw huge losses in jobs.
Though food and grocery and online sales in these sectors went up, the non-food area showed losses. Food with accommodation, tours and travel, theatres and entertainment and the construction industry saw terrible losses that will take a few months to a year to make recovery post the lockdown.
This is a time where businesses are rethinking their strategies and making organisational changes. People have come to realise that most jobs can be done from home if there is a laptop and internet connection. Few companies have asked all employees to work from home till the year 2021. This gives flexibility to work at the same time allows one to spend time with the family or at least be under the same roof for more number of hours. The other advantage of propagating work from home is that talent does not need a visa anymore.
If one is talented and able to impress the interviewers during online interviews, the job is theirs no matter which country they are from and where the job is based out of. But then there are some jobs that just cannot function without physical presence like the labour sector, which is seeing a lot of tension as work on construction sites is suspended. Once the health of the population in general is taken care of, the governments’ world over have a humongous task at hand. This includes rapid and quick actions on getting the jobs back to the people and economy back at its feet again.