Unemployment became one of the biggest challenges in this unfortunate time of Covid 19, as many lost their jobs, placement drive in College and University campuses almost lowest of all time, many Organization working with 50% working staffs and beyond this thing in the Job sector is facing a major crisis.
During the economic standstill, the International Labour Organization predicts that 400 million people in India are at risk of poverty. It is estimated that in the first wave, 10 million people will return to their villages and another million will be on foot or by bicycle.
The economic impact of the COVID-19 pandemic in India has been devastating. India’s growth slowed by 3.1% in the fourth quarter of the 2020 fiscal year, according to the statistics ministry. India’s top economic adviser said this was due to the impact of the coronavirus pandemic on the Indian economy.
India imposed a blockade to stem the spread of the deadly COVID-19, and its impact on economic and commercial activity has led to job losses and an exodus of migrant workers that has rocked the country. While India experienced a slowdown before the pandemic, according to the World Bank, the Covid 19 pandemic has magnified existing risks to India’s economic prospects. As far as unemployment is concerned, India is not out of the woods yet, because one year after the lockout was imposed to curb the spread of the coronavirus on 25 March last year, the job losses caused by the pandemic have not decreased.
According to the Centre for Monitoring of CMIE, the unemployment rate in February 2021 was 6.9 percent, which is better than the 7.8 percent a year ago when the closure was in place to curb the spread of the deadly COVID-19 (25 March last year) and last year it was 8.8 percent in March 2020 when closures were imposed. The data also showed that the unemployment rate peaked at 23.5 percent in April and has remained at 21.7 percent since May.
One way to meet this challenge is to learn from the experience of the pandemic and use technology to deliver programs and services. In order to protect workers from all income levels, countries must be prepared to reallocate resources to activate programs that improve the efficiency of job search and placement and provide relevant skills for new job vacancies.
India’s macroeconomic package was announced at Rs20 lakh crore ($280 billion), or 10% of India’s GDP. It consists of a mix of reforms, infrastructure building, support for stressed business, and a certain amount of direct cash. The package announced by the Prime Minister on 12 May included previous measures taken by the government, including the RBI announcement.
In response to the Coronavirus pandemic, the New York State Department of State Unemployment Insurance Program was modified and expanded to help people who are unable to work or have lost their jobs due to the COVID-19 health emergency. Some unemployed people are entitled to regular unemployment insurance benefits, the so-called UIB, while others, including independent contractors and non-traditional workers, are entitled to unemployment benefits under the new federal Pandemic Unemployment Assistance Program (PUA), which is part of the recently passed CARES Act. Unemployed people who receive traditional unemployment benefits through the PUA program are also entitled to the special Pandemic Unemployment Benefit (PUC), a new assistance program financed by the CARES Act.
Unemployment insurance is one of the largest social insurance programs in the United States. State and federal programs pay benefits to people who lost their jobs. Launched in 1935, the federal and state Unemployment Insurance Program (UI), as structured before COVID-19, replaced some of the wages of workers who were laid off when they sought available work. The Coronavirus Aid, Relief and Economic Security (CARES) Act (Valenvirus Aid, Relief and Economic Security Act) that was passed in March 2020 extended the unemployment insurance system to provide relief to the unemployed, but that relief expires on July 31 unless Congress acts prior.
Jobseekers have until 14 March 2021 to apply for unemployment benefits. Employers with unemployment accounts may not charge their former employees receiving unemployment benefits in connection with COVID-19 unemployment benefits.
In India places like Mumbai, Pune, Bengaluru, Chennai, Gurgaon, Ahmedabad, and Delhi NCR are well known for good placement is driven cities had also witnessed a sharp downfall in job placement during this Covid 19 starting
from Dec 2019 till date. India had witnessed a tough situation but still, it has the potential to grow as things will change gradually not immediately. Beyond this many sectors are showing good aspects and positive orientation like health, biotechnology, online education, online jobs, etc.
Many companies expecting many new job openings in the online sector till 2025 due to which now even online UG and PG degrees are offered by many NAAC A Grade Institutions accredited by UGC and which will be recognized as equipment to Regular offline degrees.
The most crucial factor is that things are difficult, the market is showing low, liquidity is not hopeful but still, there are high hopes for change because it is a global pandemic, and India though is a big nation comparing to many small countries. The décor focus and selective jobs are very important as much new entry of global players and creation of new segments in recent times which will reflect very positive and good approach in coming years.
Learning and earning by an alternative value-added job with experience will definitely be going to be a healing factor in this current scenario as Rome was not built in a day similarly this situation will not change overnight but it will surely, so till then survival strategies will be a workable solution.
Never say die attitude and keep trying new alternative and touching the new trend in this crisis of Survival matters a lot as one will never touch the same water again and similarly this time will change.
Understanding the demand and doing whatever feasible in this high time of pandemic is the best thing one can do, as this period is the best time for investment in learning, training, internship and experiencing new role play with survival by doing the available or feasible job with gaining whatever feasible good countable earnings and experience.
The best thing one should utilize is earning the new by investing money in the right source and in the right organization which will be countable in the future course of time. Never the less it is important that the right selection of jobs in the right sector is very important if one get it is great and if not get into something where one can learn, earn and get countable experience which will sunrise like anything in the future course of time in near future.
Jobs are always their only downfall in the majority of sectors but still, there is a ray of hope with the emerging of new segments and sectors and introduction of new job area in the online space which highly motivates a certain section of people in limited space to have a survival strategy towards better tomorrow.
Staying positive frame of mindset in this pandemic with the right attitude towards life by choosing the best alternative feasible as a part of survival in this pandemic and gaining experience so that when time change in near future will be result oriented someway or the other with a countable experience and worth for long run.
Advocate Supreme Court of India