Jobs Market To See A Massive Slowdown Amidst Corona virus Shutdown?

It’s in the news over and over again. Indigenous leaders from all around the world are asking citizens to stay home and stay safe. India did remain unscathed for a while, but then our people started coming home from abroad and that is when the chain started. The fear of a global pandemic has affected the jobs and labor industry substantially.

Millions of citizens quarantined and a good lot locked within their homes has directly affected the Travel and Business industry. In China, workers are asked not to come to work or if at all they show up they are to do so with a Medical certificate. With factories locked down, production schedules have lowered and there is a shortage of products expected. China is the second-largest economy in the world. With factories idle and workers unable to continue a global ripple effect may take place.

Say, for example, iPhone’s manufacturing unit based out of China hasn’t seen any Operations for more than two weeks, resulting in a reduction of Sales and revenue for Apple. Now multiply the same by thousands for other companies. If the outbreak keeps growing at the same rate, it is quite possible that organizations may start downsizing to cut costs and survive through troubling times.

The global business impact of the virus spread is already being felt in many parts, with the world scrambling to control its spread. Australia is still reeling from shockwaves while other European countries observe a complete lockdown.

Talking of India, the China-originated virus has so far affected the Manufacturing and Exports sector that includes Electronics, Textiles, and chemicals. The govt is indeed taking necessary measures to protect the Indian economy from threat, but it is probably too early to say if the jobs sector is going to be hit. Let’s be optimistic here. Assuming that people from around the globe will listen and standby authorities, the virus will remain dormant and last for a while until when the scientists find a cure.

Prometheus Consulting is one of the top-rated recruitment firms in India, and we understand the pain of having to go through a job crisis with no fault of yours. Watch this space for more updates on the jobs sector.

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