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The Economic Impact of Workforce Disruptions on The Output During COVID-19 Pandemic

Author

Listed:
  • Hamzah, Heizlyn Amyneina

    (School of Business and Economics Universiti Putra Malaysia 43400 UPM Serdang, Selangor MALAYSIA.)

  • Saari, Mohd Yusof

    (EIS-UPMCS Centre for Future Labour Market Studies Menara PERKESO Putrajaya No. 6, Persiaran Perdana, Presint 2, 62100 Putrajaya MALAYSIA.)

  • Abd Rahman, Muhammad Daaniyall

    (School of Business and Economics Universiti Putra Malaysia 43400 UPM Serdang, Selangor MALAYSIA.)

  • Utit, Chakrin

    (School of Business and Economics Universiti Putra Malaysia 43400 UPM Serdang, Selangor MALAYSIA.)

Abstract

This paper examines the economic impact of workforce disruptions on the output, final demand and Gross Domestic Product by applying an extended input-output (I-O) model. In the extended I-O model, workforce disruptions are measured and modelled in two perspectives: loss of employment (LOE) and inter-industry disruptions that limit the number of workers in the production. Results show that the inter-industry disruption / supply shock is likely to give a tremendous impact compared to the LOE. Moreover, the level of economic impact is also influenced by the level of economic integration among sectors. In this regard, the more integrated a sector with the high-risk sectors, the more impacted the sector is. In conclusion, the results suggest the need for balancing the economic and health risks to ensure that the welfare of people is protected.

Suggested Citation

  • Hamzah, Heizlyn Amyneina & Saari, Mohd Yusof & Abd Rahman, Muhammad Daaniyall & Utit, Chakrin, 2022. "The Economic Impact of Workforce Disruptions on The Output During COVID-19 Pandemic," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(2), pages 65-75.
    • Handle: RePEc:ukm:jlekon:v:56:y:2022:i:2:p:65-75
    DOI: http://dx.doi.org/10.17576/JEM-2022-5602-5
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    Cited by:

    1. Uchiyama, Yosuke & Furuoka, Fumitaka & Md. Akhir, Md. Nasrudin, 2022. "Gig Workers, Social Protection and Labour Market Inequality: Lessons from Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(3), pages 165-184.

    More about this item

    Keywords

    Covid-19; input-output model.; loss of employment; workforce disruptions;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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