The entire world is facing the serious consequences of the global pandemic COVID-19 disease which has spread all over the world, and this had an adverse effect on various serious issues like unemployment, collapsed economies and it's effects will be dire.
This is a serious issue for each and every economy in the world, and it's a biggest challenge in front of them.
Companies are trying to balance themselves in this global recession, and for this they are adopting for staff cuts and salary cuts.
Following are the countries with highlights of unemployment status-
1.India-
●According to report by Centre for Monitoring the Indian Economy (CMIE) it is stated that India's unemployment rate is about 27.1% for month of May.
●Unemployment rate in rural areas is about 23%.
2.United States of America-
●2.4 Millions of americans have applied for unemployment benefits.
●About 15% increment in unemployment is estimated for next 3 months.
●It is highly affected on Unorganized labour and sectors.
3.United Kingdom-
●2 Millions of people have applied for unemployment benefits.
●69.1% increment in unemployment.
●People are striving for government scheme benefits.
●Heavy unemployment is estimated in airline industry.
4.Germany-
●0.3 Millions of people are unemployed.
●Unemployment rate is 5.8%.
●Unemployment rate is lower compair to other european countries.
5.Japan-
●1.76 Millions of people are unemployed.
●Unemployment rate is lower compair to other european countries.
●People highly demanding for loan.
6.Canada-
●7.2 Millions of canadians have applied for unemployment benefits.
●Unemployment rate is 13%.
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