Comparison of the COVID-19 Impacts on UK and US Economy: Evidence from Employment

Abstract

Contemporarily, the COVID-19 pandemic has strongly influenced the global economy in various aspects. Among the strongly affected fields in economy, the employment ratio is one of the most influenced indicators as the corporation strategies have been adjusted due to the environment. On this basis, this paper will investigate and analyze the impacts on employment based on data retrieving and analysis. To be specific, two countries will be selected for better illustration, i.e., the U.S. and U.K. According to the analysis, the effects of the pandemic will be demonstrated. In detail, both countries face the drop situation of the employment ratios. In addition, the current policies proposed by the governments of the two selected countries will be discussed and evaluated. Moreover, the limitations as well as future prospects will be pointed out accordingly. These results shed light on guiding further exploration focusing on policy implementation of government during sudden risk affaires (e.g., pandemic).