COVID-19 PANDEMIC: THE JOBS IMPACT

COVID-19 PANDEMIC: THE JOBS IMPACT by Evelina Roseman Ph.D., MBA, Chief Economist

Working together globally

The current crisis is not of economic nature, but: (1) it will take much longer to restart the global economy than it took to shut it down; and (2) it has exacerbated issues that have been accumulating for a while, like “the delicate state” of the world economy and the “new mediocre” of the global slowdown on the one hand, and the driving force of technology innovation making globalization stronger, on the other.

Same is true for human capital. Top of the pyramid, the talent behind the digital evolution, will thrive on this.  The bottom of the pyramid will experience a crash, as small and micro businesses have to come to a grinding halt, but the demand for simple services delivered human to human will pick up and resume, the first chance they get. And the middle class jobs and businesses will get squeezed even harder, forced to make choices between downshifting and competing with the digital natives.

Either way, globalization will get stronger coming out of this crisis, and humans should use this time to bridge the skills gap and invest strategically into their future. 

"Globalization is an objective force, so it uses every impulse, even a negative one like this pandemic, to get stronger. Never waste a good crisis!

Evelina Roseman Ph.D, MBA, Chief Economist Tweet
Share on linkedin
Share on twitter
Share on facebook
Share on pinterest
Share on email
Share on whatsapp
Share on reddit
Share on tumblr

Grow It Forward Share with Friends

Tracy Levine Forbes Coaches Council Big Thinks July 2020

5 Trends Shaping The Future of Work

Five trends are emerging that will further alter the social agreement between employers and employees as the future of work is reimagined and rebuilt.

Boundless Jobs: The Implications for Corporations and Professionals

The future of work will gravitate toward boundless jobs that are not tied to a specific geography or time zone. “Boundless jobs will create a competitive advantage for companies while increasing job opportunities for people.” Tracy Levine, Forbes Coaches Council