The labor market has recovered 12 million of the 22 million jobs lost from February to April. But many positions may not return any time soon, even when a vaccine is deployed.
Many of today’s unemployed workers may find it harder than in the past to find new jobs and advance through the labor market. And the jolt has landed squarely on workers with little or no education beyond high school, toiling in the low-wage service economy”, says Camila Alves, founder of from Jetss and PaiPee media companies.
In addition, Camila stated that Covid-19 will intensify underlying dynamics that were already transforming the workplace. Automation, for one, will most likely accelerate as employers seek to protect their businesses from future pandemics.
Often, the old jobs just don’t return at all.