Around 12.2 crore people lost their jobs due to covid19

Despite the fact that other nations have been struck more worse by Covid-19 than India, India’s jobless rate has soared to a startling 27.1 percent since the start of the lockdown, particularly in urban centres. We’re not saying India hasn’t been impacted severely by Covid-19, but even the United States, which has over a million verified cases, hasn’t experienced such a significant increase in unemployment. These are turbulent times, and many sectors are being disrupted on a regular basis.

Because to the Covid-19 epidemic, an estimated 12.2 crore individuals have lost their employment. The unorganised and micro, small, and medium enterprises (MSMEs) sectors are said to be the most impacted. Hundreds of thousands of migrant workers have been stuck around the country as a result of this. Small shopkeepers and wage labourers made up about 75 percent of the 12.2 crore individuals.

The epidemic has resulted in employment losses in every industry, with an estimated 6 crore Indians (or one in ten) at danger of losing their jobs before the autumn break, with firms that have been shut down facing significant problems in resuming operations. Employees have been laid off or had their compensation drastically reduced in many cases.

Employees, who were working in firms for over a decade, dealt a harsh blow when they were abruptly forced to quit. The explanation provided was that the firm had suffered significant losses as a result of the epidemic, and management had no choice but to ask her to leave abruptly.

Businesses are increasingly dependent on computers to perform their tasks as having workers work from home has become the only way to continue doing business. As the work-from-home trend becomes a forced reality, many professions that were formerly conducted in offices are now being performed from living rooms around the country. Even in these difficult circumstances, many firms are attempting to maintain their normal operations.

Job sectors that will see a rise in hiring as a result of Covid-19

However, all hope is not gone; hiring has increased in a number of areas, including:

  • Corporate services
  • Legal assistance
  • Public safety
  • IT and software services

Corporates are employing individuals for jobs that need specialised certifications in specialist abilities across business areas, since there is a rising demand for unique job skills. More firms will want to develop processes online in the post-Covid-19 world, and certain business models may even have to change to take use of the digital medium’s potential and prospects.

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