Unemployment rates increased due to COVID-19

Question

According to the U.S. Bureau of Labor Statistics, "The recession induced by the coronavirus disease 2019 (COVID-19) pandemic resulted in steep job losses, pushed unemployment rate to a high percent of 13.0 percent in the second quarter of 2020". The article talks about how unemployment rate and employment rate declined in all demographic groups.

Answer 1

Yes, the COVID-19 pandemic significantly impacted unemployment rates worldwide. In many countries, the implementation of lockdowns and restrictions to control the spread of the virus led to widespread job losses and economic downturn. According to the International Labour Organization (ILO), the COVID-19 crisis caused a "massive disruption" to the global labor market, resulting in a significant increase in unemployment and underemployment.

Here is a link to an article by the International Labour Organization (ILO) that provides insights into the impact of COVID-19 on global unemployment:

https://www.ilo.org/global/topics/coronavirus/impacts-and-responses/WCMS_743146/lang--en/index.htm