COVID 19 and job loss

Maksimović, Marijana (2021) COVID 19 and job loss. Macedonian International Journal of Marketing (13). pp. 128-133. ISSN 1857-9787

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Abstract

The coronavirus, which erupted in March 2020, caused a decline in economic activity and disrupted established work practices. This virus has affected the economic, social and cultural life of the population around the world. As social interaction has changed, working conditions have also changed. These changes mostly affected small and medium enterprises, that is the entrepreneurship sector, and especially the sectors of tourism, catering, international traffic and transport. For these reasons, the assistance of the state and international institutions was mostly directed to this sector. In addition to preserving life, it is necessary to preserve assets and liquidity, and these issues have become the biggest concern of entrepreneurs. Then, there were changes in consumer behaviour and supply chains. There is a significant lower demand for goods, especially in the textile industry. In addition to the economic crisis, the coronavirus also caused a social crisis. The increase in poverty and social inequalities is expected to be even more pronounced in the coming years. This virus also caused a psychological crisis, because the need for psychological services in a contactless way has increased. The promotion of telework in general has become a trend in strengthening the social dimension of most of Europe. ob losses in 2020 amounted to 144 million compared to 2019. The shortening of working hours was also expressed. However, a disproportionate impact of coronavirus by sectors has been observed, and a disproportionate recovery of economic activity is expected. The sector that will recover the fastest is certainly the information technology sector.

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