Labor crisis in this pandemic- by Ayushi yadav
In this pandemic we are facing unprecedented times as the coronavirus sweeps the globe.For the time being, even in the short run, the economy is unstable and under extreme condition of inequilibrium.As the demand and supply for labor are varying significantly and to such an extent that it has led to substantial increase in the unemployment level.From those working in restaurants to those making a living by ironing clothes , those involved in construction work , repercussions of this pandemic are ubiquitous. Therefore there is an adverse need for both effective fiscal and monetary policies.The contemplation of governments has resulted in implementation of several policies, for instance several countries like Japan, China, India etc are adopting the wage compensation scheme to help the informal sector.But can we really expect its successful implementation? For every 10 people who successfully applied for unemployment benefits during the crisis ,three or four couldn't get thro