How the Coronavirus (COVID19) is Hits the Economy?

Coronavirus is causing enormous upheaval in the world’s economy, as you know that coronavirus is the biggest epidemic in today’s history, it has gradually taken a huge form, it is rapidly eating the world’s economy like a termite. The crisis reveals the terrible situation of millions of men and women. as the government locks down, millions of people become unemployed.

The financial times quoted some sources as saying that many countries were already in economic crisis before the pandemic hit: they are even more vulnerable now. There are several countries in recession.

Many people think everything will be alright but it is becoming like a nightmare today many are no longer sure. although some encouraging signs have emerged suggesting that the crisis may have peaked.

Two Main Reason for the Economy to be Down

This Situation persists in many countries, millions no longer earn wages because almost all non-essential economic activity has stopped. More than 178,000 companies had to lay off more than three million workers due to the economic shutdown. A big concern is how many businesses plan to reopen after the Coronavirus epidemic ends.

1. Due to lockdown no business in running condition that causes the 2 steps behind the time.

Many businesses have been affected by the lockdown, some of the small businesses now facing liabilities, including taxes, wages, and monthly fees, and many more problems as well there are other businesses whose production has stopped so they will fall behind due to this recession.

2. After lockdown, there is a chance a recession has been there, leading to a loss of employment and a slow economy.

As you know, many businesses will suffer rapid losses after a lockdown. While a few have already decided to shut down, others fear losing their business due to the responsibilities. They may need to carry out due to lack of business in the coming months. which will affect the economy as well many people will come to the verge of unemployment.

Remote work Promotes the Social Distancing as a Solution in this Pandemics

In these crises, Remote work can help businesses stay productive, focused, and mentally strong & healthy as they work from home during the current global pandemic. The right technology tools and clear and constant communication are much more important than ever. it’s recommended that managers should launch remote Workcorrectly, fix & carefully plan and facilitate remote meetings, and should be given extra attention to the behavior of employees.

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