During an economic recession, finding jobs can be very difficult because the economy is down but this year, it is even more disturbing and difficult as there is a pandemic which has led to people being layoff their jobs and companies closing up.
The first two months of the year was fabulous for a few people depending on the geographical region where you live, but as the epidemic became a global pandemic, things began to shake in the economy and the economy shut down for months. This led to layoffs, closure of businesses and unemployment for so many people. A lot of young entrepreneurs who started their businesses this year can say for a sure that they lost money, in fact so many people lost their capital. Entrepreneurs who were starting their businesses afresh at the beginning of the year started looking at other ways to start their business during a pandemic. This thing became a problem for young entrepreneurs because most millennials haven’t experienced such.
A lot of people have between the age of 18 and 35 have lost their jobs and do not have any hope of a job anytime soon. Why did this pandemic affect younger generations more than the old? Looking at the age bracket between 18 and 25, these set of people often work on shift jobs, part times and on contracts, and during a pandemic, the first set of people to be hit are these people.
Jobs aren’t going to boom immediately even with the governments support, it will take time for businesses to stand back to their feet and till businesses are okay, the unemployment level will still be high and people will still have to live on stipends and stimulus checks by the government. For the next one year, a lot of companies will not be hiring and a lot of people will go bankrupt.
Thanks for reading, please let me know how the economy in your country is currently and if the rate of unemployment has reduced or it is still on the high?