THE IMPACT OF THE PANDEMIC ON THE LABOR MARKET IN THE WESTERN BALKANS
The emergency health crisis caused by the COVID-19 pandemic has directly affected the labor market in almost all countries of the world. COVID-19 offers a historic opportunity for a model that is oriented towards the basic needs of society, employment, strengthening resilience to crises, and transforming the economy. The restriction of movement has caused a drastic drop in business activities on the one hand, while the complete closure of many industries has left many workers without work. As a result of the coronavirus pandemic and the closure of businesses, a large part of citizens suddenly became unemployed. Movement restrictions and social distancing have affected labor supply and demand. Entire sectors of national economies have been closed: hotels-restaurants, non-essential retail trade, tourism, transport, and a good part of manufacturing. The pandemic crisis has increased unemployment and will throw even more workers into the informal economy. At the same time, the crisis has further exacerbated the pressure on wages. Wage-cutting practices reported during the pandemic are likely to continue even further considering the pressure from rising unemployment levels. Based on these circumstances, the states of the Western Balkans were forced to take the necessary legislative measures, or other measures, to provide or organize in the appropriate scope to overcome the emergency crisis from the pandemic. Despite the global pandemic and the economic review, it is always a good idea to create stability to protect yourself when facing problems in the labor market.
pandemic, labor market, unemployment, overcoming the pandemic.