Abstract
Aim: The current study aimed to examine the influence of Covid-19 on unemployment rates in developed and developing countries. For this, the study analysed the impact of government stimulus packages on unemployment rates.
Method: The study adopted a secondary quantitative methodology in which data on unemployment rates and government stimulus packages were taken from the World Bank repository and government news websites. Descriptive statistics, correlation, and regression tests were conducted through SPSS to find out the possible causal effect of the government stimulus package on unemployment rates in the selected countries.
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The engine of growth of the contemporary world is driven by human productivity coupled with the government’s incentivisation policies for work. While rapidly growing technology-led industrialisation characterises the 21st century, rising unemployment poses a question mark on the government’s ability to maintain a healthy level of national productivity (Barrerro et al., 2020). Unemployment means that people beyond a specific age are not being a part of paid employment or are self-employed despite being available for work (Alrayes & Wadi, 2018).
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Abouelfarag, H. A., & Qutb, R. (2020). Does government expenditure reduce unemployment in Egypt?. Journal of Economic and Administrative Sciences.
Aiginger, K. (2014). Industrial policy for a sustainable growth path (No. 469). wIFO working Papers.
Albanesi, S., & Şahin, A. (2018). The gender unemployment gap. Review of Economic Dynamics, 30, 47-67.
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