Covid-19’s Effect On Unemployment

Out-of-work Arizonans paid $300 unemployment supplement

Unemployment has always been a major issue for many countries. As of last year, the US unemployment rate had been a meager 3.5 percent. But during this Covid-19 pandemic, the unemployment has expanded into the double digits as 10.2%, with nearly 2 million additional cases in July alone.

According to the Pew Research Center, the unemployment rate rose higher in three months with Coronavirus than it did in the Great Recession. So why is this? Women have seen an increase in unemployment rate: 14.3%. The reason for this being that women make up the majority of the workers in hospital and educational sectors which both had a decrease in employment during Covid-19. Hospitals saw a 39% decrease in employment and educational sectors saw a 15% decrease in employment. Men saw a 11.9% decrease in employment which is the opposite of the effects of the Great Recession. 

Chart: Predicted Unemployment Higher Than Great Depression | Statista

Covid-19 has also had major impacts on immigrants who moved to the US. Before the pandemic, immigrants had a steady 3.7% unemployment rate. But immigrants who moved during the pandemic saw a shocking 15.7% unemployment.

Ever since 1932, unemployment has been a major issue. But now with Covid-19 exacerbating it more, it is something that must be tended to. Effects of long term unemployment have major consequences which ,according to the Urban Institute, include receiving smaller wages in later jobs, suffering from poor health, having children with worse education than others, and an increase in crime in communities with high unemployment.

The Effect Of Youth Unemployment On Crime | DCentric

Categories: Society

Tagged as: ,