Covid-19 has had a devastating effect on the entire economy of India. The unemployment rate also increased from an 8% to 24% from march to May last year. Due to the shutting down of factories, the labor market suffered a lot. Either they lost their jobs or their wages decreased drastically. More than 1 crore of the migrant laborers had to return home. Among the laborers in informal jobs, over 57 percent were not employed in April 2020. Once the lockdown ended in 2020, a large percentile of the formal employees transitioned to the self-employed sectors. Women are more likely to be in non-regular employment. Hence this pandemic escalated the vulnerability of women employment. The worst impact amongst all the industries were on the hotel, travel and airline industries. The IT- software industry had the least impact from the outbreak of the virus.
- Written by Devyani Seghal
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