WORKING OR WORKLESS POOR: THE EFFECT OF PANDEMICS
WORKING OR WORKLESS POOR: THE EFFECT OF PANDEMICS

Author(s): Iglika Slavcheva
Subject(s): Economy, Socio-Economic Research
Published by: Икономически университет - Варна
Keywords: working poor; COVID-19; pandemics; poverty
Summary/Abstract: Emerging at the end of 2019, COVID-19 rapidly spread among the whole planet, challenging both health care systems and the economy. Most activities were halted due to the outbreak. Consequences are yet to be estimated, though most analysts predict a global economic crisis. Historically, the working poor is among the most vulnerable social groups. With most businesses cutting-off wages and employment, less qualified and poorly educated people face higher risks of unemployment. Moreover, this group relies mainly on monthly income and has small or no savings. Hard times could provoke wrong decisions and such people are often forced into the whirlwind of the shadow economy. The paper highlights the possible outcome for the working poor and suggests policies for reducing the negative impact of the global recession.

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