Covid-19: Job losses likely to rise in May as 2nd wave batters economy

The second wave of Covid-19 seems to have done more damage than predicted earlier expected. Smaller businesses including micro, small and medium enterprises are laying off more employees as demand and sales have plummeted due to localised lockdowns.

Job losses are likely to witness a jump in May after rising sharply in April due to strict lockdowns imposed in most parts of the country to prevent the spread of Covid-19 cases during the second wave. The second wave of Covid-19 seems to have done more damage than predicted earlier expected. Smaller businesses including micro, small and medium enterprises are laying off more employees as demand and sales have plummeted due to localised lockdowns. It may be noted that 98 per cent of the country is in some form of lockdown, resulting in a drop in both rural and urban employment.