Crisis Caused by COVID-19 Pandemic Severely Affects 82% of North Macedonian Companies

Corona virus (Pixabay)

The crisis caused by the COVID-19 pandemic had a considerable impact on 82% of North Macedonian companies, the website Kapital reports. 

Nine sectors, employing 62% of the total workforce in the economy, were most severely affected by the crisis, while as many as 40,000 jobs are in direct danger. 

Without adequate measures and support for these companies and their employees, the current unemployment rate in the country will increase by five percentage points, according to a survey conducted by the Organization of Employers of Macedonia among domestic businesses. 

The survey was the basis for preparing the recently unveiled report on a quick assessment of the impact of COVID-19, developed by the International Labor Organization (ILO) through the EU-funded Strengthening Social Dialogue project. 

The nine most endangered sectors are: services, especially those pertaining to food and drink, retail, transportation and storage, the processing industry – especially food production, and construction. As many as 43% of companies from these sectors, especially micro and small enterprises, have reported a decrease in revenue of a half or more, while 11% have temporarily stopped working. 

About a half of the companies surveyed said that they would not survive Q3 2020 if the crisis situation did not improve significantly.