Istanbul Gelisim University - The most important problem after the epidemic in the world will be unemployment

The most important problem after the epidemic in the world will be unemployment

Pointing out that the most important problem to be experienced in the world after the coronavirus epidemic that deeply shaked all the economies of the country, are the increases in unemployment rates, Asst. Prof. Dr. Onur Özdemir said: “It is predicted that the highest unemployment rates will be reached in Australia in the last 25 years, it can exceed 20 percent in Spain, and 20 million new unemployed populations will emerge in the United States.

Emphasizing the precautions taken against unemployment, Asst. Prof. Dr. Onur Özdemir from Istanbul Gelisim University said: “Although there are headings such as dismissals, certain levels of income support for unpaid employees and deferred debts, these should be followed carefully because they produce short-term economic results. In other words, it is likely that there are direct and indirect problems that may arise as a result of increased unemployment in the medium and long term.”

“EMERGENCY SOLUTION NEEDED AFTER THE OUTBREAK”

Expressing that the future of the current economic system is also discussed, Onur Özdemir added: “The discussion of the current facts also requires taking into account the effects of technological development levels. In terms of both technology-based transformations in the production system and potential problems that may arise at investment levels due to COVID-19, problems likely to arise in the labor markets need to be added to the list of urgent titles that need to be resolved after the outbreak.”

Asst. Prof. Dr. Onur Özdemir continued as follows: “When the World Economic Outlook Report on the basis of the revised economic contraction - recovery scenarios covering the years 2020 and 2021 published by the IMF is analyzed, countries are expected to face serious problems in terms of growth. For this reason, it is anticipated that most employees will be removed from their current jobs and become unemployed until the recovery period begins. It can be said that such a phenomenon will not only affect the labor markets in itself, but also endanger the recovery process in terms of the future of consumption and investments.”