How can this economy revive?

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In the history of the world, whenever a worldwide economic crisis has been reported, the repercussions are explicitly observed in the employment process of every country. In the wake of the ongoing pandemic, the impact is predicted to be enormous .


Early estimates of jobs data indicate that the corona virus effect may have left a devastating impact on the economy, sending urban unemployment rate soaring to 30.9% . Overall unemployment rose to 23.4%.
Nearly one-third of the workforce is also made of casual workers, who may not have much of a safety net if the economic flux continues. Since those without incomes will begin to consume less and less, it may leave a more lasting effect on the economy if left unaddressed, As a source said “There might be second and third-order impacts (on firms and governments). The government needs to step in and help the economy bounce back after the lock down. People need income,".

Global unemployment, which stands at 190 million, could see a sharp rise as businesses lay off workers and cut working hours. The impact on those working in the informal sector, mostly in the poorest countries, would be worse as they lack social protection such as unemployment benefits.

Every other industry is firing workers. Also there is a rumor to go to robots than humans after this pandemic. What do we need? How can this economy revive? Will there be an increment in unemployment after quarantine? Where will the income be coming to the poor?


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