Outcomes of the New Pandemic (Part-2)

If you haven't read the Part-1, click here to read it.

Thirdly, due to the lack of job security in the world, various employees are being removed from the firms and companies due to financial crunch. Millions are now unemployed and are sitting at homes dealing with daily problems according to their financial status. Another great factor contributing to unemployment is the daily wage earners who come from economically and financially low background. They manage their source of livelihood by the daily low incomes by running fast food stalls, repairing works and by performing any type of small businesses. They are the worst hit of the pandemic as their customers are not getting out of their homes. They have a minimal amount of savings and do not possess any kind of knowledge to be skilled labour. So, it is evident that both the types of labours- skilled and unskilled ones are facing the catastrophe currently.

Source: International Monetary Fund (IMF)

In India, the situations are the same as seen in the world. The unemployment rates had boomed suddenly in the month of April which was increasing steadily from the start of the year. The stats had increased much from low labour participation as they were harrowed back to their homes in different states. This has made situations complicated for the industries sector. But in the month of May, the stats seem to fall with a great speed as the Indian Government has put all their efforts to balance the unemployment rates to their lowest. They have successfully launched various schemes and raised funds for the welfare of the unemployed.

Source: Centre for Monitoring Indian Economy (CMIE)

Fourthly, this calamity has just demolished the reservoirs of resources and its shortage has started to occur. The sources are as before but the manpower and the appropriate conditions have been reduced to their lowest. The daily supplies and healthcare commodities have been hampered the most in this situation.

The gravest of all is the increasing vulnerability of food security. According to the estimates by UNWFP, at least 265 million people are at a risk of going hungry in 2020, which is almost twice as many in 2019. PPE kits, sanitizers, masks, and all the protective commodities are running low in various countries due to panic shopping and low production capacity. These nations are retaliating with promoting domestic products to avoid instability and shortages of any kind.

In a nutshell, this pandemic has delivered a dismal time to the people all around the world. On the same plane has somehow ignited innovations in the brains. Every mind now is not fearing of the pandemic but is just searching for ways to get out of this once-in-a-life situation. And perhaps that’s why I believe that these outcomes will surely be the bonds of upcoming world superpowers. And that should be the truth or else the outcomes will shake the world!

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