Write a short paragraph on RAISING unemployment due to COVID 19 in india
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Answer:
early January, Chinese authorities identified the novel virus COVID-19, informally known as coronavirus. Less than three months later, economies across the world are feeling the effects of nationwide lockdowns and economic uncertainty as a result of the coronavirus pandemic. One by one, U.S. cities are imposing the shutdown of public places and non-essential stores, with numerous stores temporarily closing of their own accord. These shutdowns have resulted in a massive, nationwide spike in layoffs.
The increase in layoffs has translated into a dramatic rise in unemployment insurance (UI) claims. On March 21, the number of weekly U.S. UI claims reached nearly 3.3 million—its highest level ever. Layoffs are expected to continue as the economic effects of the pandemic worsen, with the number of people on UI expected to continue to dramatically increase in the coming weeks.
While businesses in many sectors are experiencing losses, earlier negative effects of the coronavirus pandemic have especially affected the service sector. The nature of businesses in this sector—which includes restaurants, entertainment, and transportation services—requires close contact with coworkers or customers, and thus workers in this sector bear the greatest risk of spreading the coronavirus. Because of this, businesses in the service sector have been the first to shut down, and workers in this sector have been more likely to experience layoffs early in the crisis
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