The COVID-19 Pandemic and Its Economic, Social, and Political Impacts
The Effects of the Covid-19 Outbreak on the Labor Force MarketZiya Erdem
Overall, the direct effects of the Coronavirus (COVID-19) outbreak include death and incapacity, while the indirect consequences are quarantine measures, travel restrictions, and social distancing. All of these aspects also have significant impacts on the labor force market. Thus, the present study investigates the direct and indirect effects of the COVID-19 outbreak on the labor force market based on macro indicators (i.e., population size, working and nonworking age population, dependency rate, labor force participation rate, the composition of the labor force, and occupational mobility) as well as micro indicators (i.e., work environment, working hours, working patterns, division of labor, occupational health and safety, leave periods, and absenteeism). According to the findings, since quarantine measures and travel restrictions have limited the mobility of the labor force, there has been a decrease in the labor force participation rate in many countries. Moreover, although a significant proportion of those who die from COVID-19 are not of working age, a considerable number of those infected are in this age range, which has impacted the labor force market. It is hoped that the findings of this study can be used as a starting point for future research on COVID-19 and its economic ramifications on society as a whole.