The impact of the Covid-19 pandemic on the international labor market
Introduction. The COVID-19 pandemic has led to significant changes in labor markets around the world. Extraordinary political efforts have been made to overcome the effects of the corona crisis. Governments, together with trade unions, have taken immediate action to address the challenges posed by the COVID-19 pandemic, including the protection of jobs, including financial support for businesses and households experiencing sharp declines in income.Purpose. Justify the impact of the COVID-19 pandemic on the international labor market.Methods. The following methods were used in the research process: decomposition – to form the purpose of the research and set tasks; theoretical and methodological – to reveal the theoretical aspects of the international labor market; economic analysis – to study the regional and sectoral aspects of the impact of the COVID-19 pandemic on the international labor market; synthesis, comparison, analogy – to study the consequences of the COVID-19 pandemic for regional labor markets; logical generalization – to identify problems in the functioning of the international labor market caused by the COVID-19 pandemic; graphical method – to visualize the results of the study.Results. The COVID-19 pandemic has had a negative impact on the participation of the population in the labor force, reducing employment in all regions of the world with different income levels, both men and women, as well as increasing unemployment. Empirical analysis has shown that the greatest decline in employment among both men and women is observed in countries with incomes below and above average. In 2020, compared to 2019, the total working time in the world decreased by about 8.8 %, which is equivalent to the full-time work of 255 million employees. The loss of working time was particularly severe in Latin America and the Caribbean (16.2 %), Southern Europe and South Asia, and the total loss of working time in North and South America was 13.7 %. Overall, the COVID-19 crisis affected global working hours by about ...