Challenges and Opportunities presented to the Albanian Economy and Labor Market during the Pandemic - Economicus

by. Aurela BRAHOLLI, Dr.

Abstract

The Covid-19 pandemic highlighted many problems in the structure of the economy and hence in the employment sector as a very delicate sector for the Albanian economy. This unpredictable factor that has affected the world economy is giving its blows every quarter to the Albanian economy. The unemployment rate has a downward trend making unemployment a major problem for the economy. The main purpose of this study is to argue and analyse the impact of the pandemic factor on the economy, specifically the employment and unemployment rate in Albania during the economic year 2020. The period of the past year has shown how government subsidy has affected or not the reduction of unemployment as a consequence of business closures. It is worth mentioning that in this paper we will try to create a comparison of two exhaustive analyses of the reports published by INSTAT and interpretations of the data of the financial year 2020. Based on these data, we will create an overview of the unemployment situation and employment in general Albania during the pandemic period. How much impact has the pandemic and the health crisis had on the economy, and what is the consequence of the pandemic in the labour market expected to continue? In conclusion, we will suggest the formulation of a group of political policies by engaging experts in various fields. These policies will not only be crucial to confront the imminent issues caused by Covid-19, but they will also be very important to overcome the general crisis created by it.

How to cite: Braholli, A. (2021). Challenges and opportunities presented to the Albanian economy and labor market during the pandemic. Economicus, 20(2), 5–19.

https://doi.org/10.58944/qjev3863