Statistical Analysis for Socio-Economic Impacts of Covid-19 Pandemic

EasyChair Preprint 3661

Abstract

The evolved corona virus has affected the worldwide situation today, as it was first stroked Wuhan in Mainland China in midst of November. Various causes have been seen in the countries such as economic loss, loss in healthcare, loss in industrial sector, the declining in the percentage of GDP of the country as a whole. In our study, we have analyzed the data on the basis of impact of COVID-19 on the GDP and Unemployment Rate in the United States, China and India. The United States was considered to be as the largest economy in the world but due to hitting of viral infection, there is a downfall in the GDP of the country which further has increased the Unemployment rates in the US. In China, after having control and getting recovered from COVID-19 pandemic it has started the recreation of the Economy. Although, the unemployment rate in China also got decreased at the peak level of infection in Wuhan but later the mitigation steps were taken by the Chinese government. In India, the corona virus spread was initially reported in the midst of January. The infection rate was multiplying at a very rapid rate in India similar to the China and US. As India is a developing nation, the GDP and Unemployment rates fluctuates at a regular time interval. India being a second most population per density nation has been largely impacted by the COVID-19 pandemic and increased the unemployment which is of major concern. As a result of which, we have compared India with respect to the US and China to mitigate the impact of COVID-19 pandemic.

Keyphrases: COVID-19, China, GDP (Gross Domestic Product), India, Unemployment, Unites States, economy, social distancing

@booklet{EasyChair:3661,
  author    = {Gopal Bhardwaj and Shivani Chandra and Ankur Saxena and Alka Grover},
  title     = {Statistical Analysis for Socio-Economic Impacts of Covid-19 Pandemic},
  howpublished = {EasyChair Preprint 3661},
  year      = {EasyChair, 2020}}