(Reuters) – Major changes in the global labor market are likely to be caused by chronic coronavirus pandemic, policymakers said Tuesday, as some industries fall, others thrive and workers living at home.
“I think it would be a shadow to think that we would go back to where we were before,” the Governor of the Philippine central bank, Benjamin Diokno, told Reuters Next. “I think we need to have a vision of what the new norm will be. ”
The pandemic, which has so far killed at least 90.5 million people and killed around 1.9 million worldwide, has put an end to businesses and workers in almost -every country in the world how tight locks have been imposed.
The International Labor Organization (ILO) has estimated that the impact of major job losses around the world creates a fiscal gap that threatens to increase inequalities between richer and poorer countries.
The ILO estimated that global labor income decreased 10.7 percent, or $ 3.5 trillion, in the first three quarters of 2020, compared to the same period in 2019, excluding income support. government intervention.
India’s Foreign Minister Subrahmanyam Jaishankar said the pandemic had created an “accident challenge” where the government regularly provided food to 800 million people and provided sustainable business financing.
“We have begun to create a social welfare system,” Jaishankar told Reuters Next.
Diokno said it was clear that some businesses will not survive, others will not be as dynamic as they used to be, and yet others will be inspired by the big changes.
“We were already targeting the digital, disconnected industries,” Diokno said.
“That explains the new norm,” he said, adding that he expects 70% of Filipinos adults to have access to a commercial bank account by 2023.
TEACHING
Australian Competition and Customers Commission (ACCC) Chairman Rod Sims was pessimistic about the outlook for the aviation industry, not seeing a return to normal international travel to and from Australia throughout 2021.
“I think free international travel between Australia and abroad will be a long time away, unfortunately,” Sims told Reuters Next.
The ACCC had released an optimistic report on the aviation industry in early December when Australia appeared to have largely halted the local distribution of COVID-19.
That situation changed almost overnight at the end of December when an employee at a quarantine hotel in Sydney tested positive for positive international entrants, after moving freely among the public. Many of the state’s borders were quickly put down and locks were put back over Christmas and the New Year, and other loops were put on the few who came into the country.
“It reminds us of the complexity of getting rid of this virus, and how quickly it can grow,” Sims said of the virus’ recovery in Australia.
HOME COMMENTS
For individual workers, the pandemic has reshaped daily working life, with tens of millions migrated to remote work.
Many have welcomed the move from long journeys by public transport to short hop between rooms at home. A global study of more than 9,000 knowledge workers by Slack, published in October, found that most would prefer a combination of remote and office work in the future.
For businesses, that means finding ways to connect their employees, both for productivity and overall satisfaction.
“There will be no organized sports, big conferences and rituals around for the next 18 months,” Diokno said.
Similarly, the need for a more flexible and innovative approach to education will remain long after the pandemics, said Helen Fulson, Chief Product Officer at education publisher Twinkl.
“How many people today do jobs that don’t exist now? she told Reuters Next Monday. “We don’t know how to train for these jobs.”
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Reciting with Jane Wardell; Edited by Giles Elgood