Macroeconomic Policy of Employment after the Covid-19 Pandemic Crisis

Abstract

The paper analyses the macroeconomic situation at the labor market and proposes measures to restore employment to the pre-COVID -19 level. The study of the basic concepts of state regulation methods of employment demonstrates that various forms of application apply to the country’s macroeconomic level. The long-term restrictive measures in developing countries result in the dramatic decline of economic activity, contraction of production, unemployment increases, labor productivity decreases due to the spread of COVID -19.

Countries with high macroeconomic indicators have better social cohesion and reliable systems of social protection. It has consequences that are more reliable on the employment level compares to the developing countries. The assessment of the various policy approaches of full shut up measures for localization dissemination disease, imposition of restrictions on the working life, the introduction of new remote forms of work and education suggests countries define special policy, which depends on the national economic and financial potential. The health system development and adoption of stabilization measures of the epidemic situation in the country are the basis to restore confidence and trust in the society.

The article proposes a deep account of the challenges that the Ukrainian economy has faced, and continues to face due to the COVID-19 pandemic effects, deterioration of macroeconomic indicators, including employment decline. Rethinking the relation of quarantine measures and employment demonstrates that the “adaptive quarantine” measures in regions show better results comparing with complete shut up business measures in Ukraine. The article assumes that employment restoration to the level pre- COVID-19 quarantine will take lingering nature in Ukraine. The various methods related to the development of the unemployed population, social support, education, assistance in creating additional jobs are proposed.