The COVID-19 pandemic has resulted in thousands of deaths and infected hundreds of thousands more (2021). Governments have put some measures in place to try to minimize the number of infected people from the disease. Since keeping mortality as low as possible, several nations have been applied lockdown restrictions. As a result of this, the COVID-19 pandemic is not only a health crisis but rapidly becoming an economic one too. According to the Work Bank data, each region experienced economic contractions, with Latin America by 7.2%, Europe and Central Asia by 4.7%, the Middle East and North Africa by 4.2%, Sub-Saharan Africa by 2.8%, and South Asia contracting by 2.7% (World Bank 2020).

As many countries are experiencing a recession, the historic increase in joblessness has been bought on (World Bank 2021). For example, the United States, the largest economy in the world, rapidly rose to 14.7% in April following the impact of the Pandemic, while the unemployment rate was 3.5% at the end of February in 2020 (U.S. Bureau of Labor Statistics Data 2021). Although the devastating effects of the pandemic on the economy have also been felt in Turkey, the situation was different in Turkey. In Turkey, even before the pandemic, the unemployment rate was reported in the May of 2019 as 12.8 (2019), with the addition of the pandemic to the already bad economic situation, it reached 13.4 in the July of 2020 (2020) despite of the fact that work termination has been banned for a period of three months in Turkey’s Covid-19 crisis,  the labor force participation rate fell. Along with unemployment at historic highs, the housing crisis in the country, which has not been comprehensively addressed before, is getting worse.