Abstract:

The global economic crisis as a result of Covid-19 might increase the risk of employment insecurity and poor quality of life among young adults. This study aims to evaluate the influence of the Covid-19 pandemic on employment insecurity and quality of life among young adults. A total of 23 out of 35 articles were extracted from PubMed, Science Direct, and Springer between the periods of September 2020 to October 2020. Articles with a focus on the global economic impact of Covid-19 and employment insecurity for adults and young adults were considered for this study. Articles not published in the English language and articles published before the year 2020 were respectively excluded. Covid-19 pandemic is likely to cripple the global economy given that majority of business establishments and companies are compelled to temporarily shut down. As a result, some establishments or organizations are having difficulties meeting up with the financial obligations of their companies. Therefore, workers are being laid off temporarily or permanently, businesses and companies are downsizing, the cost of goods and services is spiking. Consequently, there is a further increase in employment insecurity among young adults. Hence, there is a likelihood of a reduction in the standard of living for the young adult population. A collective effort by the government and major stakeholders is required to ensure rigorous enforcement of Covid-19 precautionary measures. Additionally, adequate social or welfare support should be put in place for individuals who have lost their jobs and low-income earners. This will help minimize the severity of the economic crisis and employment insecurity among young adults globally. The study culminates with directions for further studies.