The Economic Impact of the COVID-19 on the Serbia’s Labor Market: Statistics and Facts
Main Article Content
Abstract
The global pandemic caused by the COVID-19 public health crisis has affected the global economy, not sparing any single country. In order to identify weaknesses and threats posed to the Republic of Serbia’s labor force, this paper analyzes the impact of the crisis through the analysis of key macroeconomic indicators and key labor-market indicators. Serbia’s labor market has shown a positive trend over the last five years; the latest statistics show that the labor market itself has not yet felt the effects of the emergency caused by the global pandemic. Therefore, due to the implementation of emergency economic measures of the Republic of Serbia, the labor market has been buttressed; however, to what extent it would be able to weather another wave of severe economic interruption is unclear. The total impact the crisis has had on the labor market at the moment cannot be determined precisely as it is primarily determined by the inactivity within the economy as well as the second round of the pandemic which health experts largely predict to come by this year’s end. The sectors that will be most exposed to the impact of the crisis are expected to be manufacturing, wholesale and retail trade, the repair of motor vehicles and motorcycles, accommodation and food service activities as well as real estate activities. The results of research are significant for future studies centering on economic development as affected by global pandemics, as well as for analyzing the impact of the current crisis on the labor market and macroeconomic indicators in the Republic of Serbia.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Once the manuscript is accepted for publication, authors shall transfer the copyright to the publisher. If the submitted manuscript is not accepted for printing by the journal, the authors shall retain all their rights. The following rights on the manuscript are transferred to the publisher, including any supplementary materials and any parts, extracts or elements of the manuscript:
- the right to reproduce and distribute the manuscript in printed form, including print-on-demand;
- the right to print prepublications, reprints and special editions of the manuscript;
- the right to translate the manuscript into other languages;
- the right to reproduce the manuscript using photomechanical or similar means including, but not limited to photocopy, and the right to distribute these copies;
- the right to reproduce and distribute the manuscript electronically or optically using and all data carriers or storage media, and especially in machine readable/digitalized form on data carriers such as hard drive, CD-ROM, DVD, Blu-ray Disc (BD), Mini Disc, data tapes, and the right to reproduce and distribute the article via these data carriers;
- the right to store the manuscript in databases, including online databases, as well as the right to transmit the manuscript in all technical systems and modes;
- the right to make the manuscript available to the public or to closed user groups on individual demand, for use on monitors or other readers (including e-books), and in printable form for the user, either via the Internet, online service, or via internal or external networks.
Authors reserve the copyright to published articles and have the right to use the article in the same manner like third parties in accordance with the licence Attribution-Non-Commercial-Non-Derivate 4.0 International (CC BY). Thereby they must quote the basic bibliographic data of the source article published in the journal (authors, article title, journal title, volume, pagination).