Unemployment Problem and Global Financing Related to CovId-19 Epidemic

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Akman V., Kızıl C.

International Asian Congress on Contemporary Sciences - IV, Baku, Azerbaijan, 26 - 28 June 2020, pp.182-187

  • Publication Type: Conference Paper / Full Text
  • City: Baku
  • Country: Azerbaijan
  • Page Numbers: pp.182-187


The Covid-19 epidemic has caused a serious economic fluctuation in the World. One of the leading reasons behind this great impact is the lack of an evident authority concerned with the management of global economy. That has caused the already existing unemployment problem reaching to new critical levels. Covid-19 has also created a perception that, local governments will get stronger following the epidemic. However, almost all goverments in the World are currently dealing with the unemployment problem that has become more severe. Definitely, it seems that all governments have their own methods to deal with the growing unemployment issue triggered by Covid-19 epidemic. This paper argues that, passive methods to eliminate the unemployment problem through Covid-19 epidemic such as incentives, benefits, aids and unemployment insurance are not completely correct techniques. The reason is that, we believe such methods bring a great burden on national budgets and they are also temporary short-term solutions. This study puts forward that, active methods aimed at the long-run should be implemented in order to solve the unemployment problem permanently. Also, efficiency based wage rise policies must be adopted for the welfare of economy, employees and employers. Absolutely, the Covid-19 epidemic has proved us that, healthy and safe working environments are a must for the employees. In fact, this factor is expected to become more important in the post-Covid-19 era.