This question is based on the current Covid-19 Pandemic.What type of unemployment is likely to increase...

This question is based on the current Covid-19 Pandemic.What type of unemployment is likely to increase in the next few weeks/months? Suppose the pandemic is particularly persistent and activities that involve a large amount of physical contact cannot be done anymore. What type of unemployment would emerge in this case? What’s a way to deal with this, if any?

Expert Solution

in this current situation COCID -19, due to the lockdown and the restricted or the only prevention of disease is to keep physical distancing.in this situation, the country is facing a peculiar type of opf unemployment. this type of unemployment is known as involuntary demand deficient unemployment. the origin of this type of unemployment is, decrease in demand for particular products, so the production of that product also decreases the companies not allowing the full no. or some of the places no number of employees to be present at the workplace.

Solution: a particular situation can be drawn from various processes. to bring change in this situation both the production side, consumer side, and government side

the production unit can start its production with the minimum no. of workers to keep the distancing.
the consumer can change their preference from foreign imported product to domestic product, then there is a gradual increment in demand, and that leads to more investment as well as employment.
the government can provide some tax relaxation. subsidy and another kind of help so that production units should not find much difficulty to cope up and progress with the current situation

Rahul Sunny answered 7 months ago

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