The pandemic of COVID-19 has now triggered one of the worst crises in all areas of life but especially in jobs. This has been the worst case of crisis since the Great Depression. There is a real danger that this job crisis will increase poverty and widen all inequalities with an impact that would be felt for years to come.
Until a cure is found with the various vaccines on the marketplace, there seems to be no end in sight. Treatment options have crippled hospitals and the healthcare market. Telehealth has seen a huge uptick, with companies like Airflowy bringing their Bluetooth-enabled spirometry device for at-home use. Even in the healthcare industry, more jobs are being lost – as less employees are required with this increase in telehealth.
Countries will also need to do everything to stop this job crisis from turning into a social crisis. Reconstructing a more resilient and better labor market is an important investment in the future and future generations.
How Does Covid-19 Affect Employment And Jobs?
The volume of online job postings also dropped greatly since the pandemic’s beginning and the introduction of COVID-19 linked to containment measures. During the second half of March 2020, job vacancies advertised online in Canada, Australia, New Zealand, the UK, and the US declined greatly.
By the earliest of May, the volume of overall online job vacancies had fallen by 50% in all five countries compared to the start of this year.
Data has shown that the drop was widespread, affecting all the sectors and occupations in five economies. By the end of December, a drop in online job postings was also evident in the UK and the US. The changing nature of work because of COVID-19 containment measures led to the increased share of job postings advertising working from home as a needed condition.
This result is also constant in the widespread use of the remote working practice in the five countries examined to sustain economic activity and overcome limitations to operations because of the sheltering in place orders or the recommendations.
Decreased Demand For Jobs
Covid-19 led to a crisis that adversely affected the demand for jobs needing lower qualifications but not in all countries. For example, by the end of April in the UK and Australia, the volume of job postings that required low levels of education fell by around 40% as those for high skilled workers by 25%. In the US and Canada, differences across all educational levels are less marked.
The long-term effects of Covid-19 infection are thought to prevail for a good long while now. Due to the ever-growing need for a stable job market, some people still haven’t gotten back on track. Demand for the front-line workers or the ones involved in the management of the COVID-19 pandemic was quite strong, as shown by the growing number of jobs being advertised. Vacancies also published online decline greatly in sectors that had to shut down because the government imposed social distancing restrictions such as hospitability and leisure.
When looking at the underlying skills mentioned in those job postings, evidence from the worldwide analysis shows a strong increase in demand for technical competencies in the emergency and intensive care healthcare sector. Just like the long-term effects of Covid-19 on the body prevail, its effects on the job market will also stay.