Impact of Covid-19 Pandemic Waves on Unemployment Rate

Abstract

In 2020, the world was hit by the COVID-19 pandemic. Countries faced an unprecedented challenge and had to implement many strict measures to prevent the spread of COVID-19, but this led to a significant increase in unemployment, thus harming economic growth. This study analyzes the data obtained in two surveys, the first survey was conducted in the months of October, November 2020 (during the first wave of the COVID-19 pandemic), while the second survey was conducted in October 2022. Slightly more than 200 unemployed Latvians participated in both surveys. In the article, the author analyzes the data obtained from the surveys, thus revealing the shortcomings of the labor market that must be eliminated in order to increase resilience and readiness for similar crises in the future.