Global economic recession. All policy makers must come up with measures to improve the economic progress of the respective countries.

Use of Information-technology and reduced use of manpower in Post-COVID era of job market, with resultant increasing human unemployment

The job-market will increasingly be based on working from home with IT based applications and solutions for everything. This trend may increase in Post-COVID-19 period and may be for indefinite period: Examples include:

1. Further increase in e-banking

2. E-trade and E-payment at the supermarkets, and e-travel documentations (tickets, refunds, cargo)

3. Robotics use in the construction and production industry

4. E-health, telemedicine and use of Robots to look after patients and deliver medicine and food (further reducing the human-touch as healing power)

5. E-education and evaluation for examinations.

6. Robotic army

Absolutely unpredictable yet. If World leaders could abstain from the usual stingy, somewhat narrow, and competitive attitudes; could show the role model of global unity with big hearts to overcome this massive aftermath ... then only we can expect a little less cloudy future and consequences of employment.

We might experience an economic recession just the like one experienced after the Second World War. Boosting economic contributors is necessary after Covid-19 pandemic.

This is a global economic recession much like what happened in 2008. But this time it is much more severe. Many of the corporate sectors are facing problems and have slowed their activities. this will obviously lead to many job losses and unemployment. It will take quite a long time for the global economy to recover and come on track. We need to wait. Post Covid 19, the world will not be the same again.

if unemployment increase more then people can not earn Money and can not buy goods which is produced by machineries and robots. how to economic system survive without buying goods produced that is way any payment must do to people for surviving this system.

I agree with the view of Muhammad Yousuf . Maybe we can add to his comment that it is time to put into action the theories of Serge Latouche. He denounces economism, utilitarianism in social sciences, consumer society and the notion of sustainable development. He particularly criticizes the notions of economic efficiency and economic rationalism. He is one of the thinkers and most renowned partisans of the degrowth theory. https://en.wikipedia.org/wiki/Serge_Latouche

At Country-level - Its hi-time to implement the economic measures prescribed by Sir Maynard Keynes during the great depression of 1931. At an individual level - Its hi-time for continual updation, skill differentiation, and self-motivation. People need to be different to tackle difficult times.

Covid 19 has certainly altered the prospects against job seekers. Many companies have either downsized or even sold unprofitable divisions. The post Covid scenario will request job seekers to be able to deliver their services from a distance. For example, if you are a salesmen, you will need to sell online instead of face to face selling. Greater skills with handheld mobile systems, compuetrs etc will certainly be an asset. The ability to work alongside computers is another emerhing skill. However, EQ will be even more important in a job environment affected by need for fewer employees.

It is the duty of each country and WHO to have an assured health and food for all the people in the world. Countries like India should make a clear legislation that any person or family having more than 100 cores wealth needs to taken by the govt. and that needs to be redistributed to all the people. All the religious places must be accompanied with hospitals. All the countries must introduce KOC system. That is Know Our Citizen to protect all the migrant and permanent citizen. All the online courses should be used for gaining and sharing knowledge only. They should not offer degrees and it should not be considered as it already spoil the Teacher-student relationship. The noble profession of teaching is sinking now.

Increasing of unemployment is already evident. Only in March, Canada suffered 1 million + jobs, whereas USA lost 20 million. In my opinion, it is only the beginning. It is a cycle. It will probably result in more job losses. For example, the amount of employee insurance shall be paid to the unemployed may even result in layoffs. It may create opportunity for the unemployed to go as entrepreneurs, especially for those who are getting packaged outs with benefits. At the same time, it is an opportunity for self-development with new skills and try to do something different. Post COVID, shall create demands for certain skills such as, working from remote area.

Indeed COVID has caused a total unpredictable scenario about how much will be total losses in economic term as the “loss” is already visible and “higher” is already predictable. We cannot really isolate one variable from the others as they are all related to each other. For example, let’s take the example of sports. If a sports event is canceled, there’s a loss for many other stakeholders. Tickets, venue rental, organizing parts etc. Therefore, we cannot really talk about countries, but we can talk about the whole world that will probably go through a crisis of zillions. At the end, buying power is expected to be all time low. Opportunity? Yes, it is an opportunity to “go back to school,” meaning, go to the root and rebuild again. Tax hike or laying off are not necessarily the answer. But a balance in inflation must be maintained as well as the stakeholders must come to the terms somewhere.

Dear Deviram Garlapati,

I think upskilling will be important in post COVID-19 job scene. Workplaces are likely to change, and with it, the companies will require skills employee. Study shows 1 in 6 employees in world lost jobs, and the worse may be yet to come. In the long term, there could be staff cuts in the blue-collar and grey-collar, and reduced demand in the entry-level segment.

The ways companies operate and work are going to change, the world was already changing rapidly, but the pandemic accelerated it. There will be few “jobs for life.” Someone that is going to succeed in a post-corona virus-world will need to be able to adapt to ever-evolving workplaces and have the ability to continuously update and refresh their skills.

The reality is that technologies such as artificial intelligence, big data, the Internet of Things(IOT), virtual and augmented reality, health medicine devices R&D, and robotics will make businesses more resilient to future pandemics, and anyone that can help companies exploit these technologies will be in a great position. Whether you work in a factory or an accounting office in a post-coronavirus world, you need to be comfortable with these tech tools as well as be able to work with them effectively.

Businesses that have been able to come up with ways to deliver services virtually (like many healthcare providers have done) or quickly shift to new products (like Mercedes F1 that have shifted from making racing cars to innovative breathing aids) have been able to better weather the storm. In a post-coronavirus world, world will need human ingenuity to invent, dream up new products and ways of working. Human creativity is going to be essential.

Professionals with data literacy will be even more appealing to prospective employers than ever before. Not all information should be trusted, but organizations will need to rely on critical thinking to understand what information should inform decision-making.

The digital transformation of organizations got a boost because of corona virus; therefore, professionals with digital skills, including coding, web development, and digital marketing, will become even more important than they are now.

Professionals with strong skills in leadership, including how to bring out the best and inspire teams as well as encourage collaboration, will be in demand.

Two uncertainties could make the job market bleaker for both the salaried as well as new job aspirants. One is if the COVID-19 graph keeps rising, across the world. While getting the labour back, clearing up the issues with raw materials, transport and supply chain is in itself worrisome; a bigger pain would be the expected dip in consumer demand. Future uncertainty might just prompt them to continue keeping their purse strings tight. That does not augur well for an economic revival, and in correlation, the employment scene.

Pandemic impact on number of employee world scenario

As job losses escalate, nearly half of global workforce at risk of losing livelihoods. As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors. Worldwide, more than 436 million enterprises face high risks of serious disruption. These enterprises are operating in the hardest-hit economic sectors, including some 232 million in wholesale and retail, 111 million in manufacturing, 51 million in accommodation and food services, and 42 million in real estate and other business activities. For millions of workers, no income means no food, no security and no future. As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent." Millions of businesses around the world are barely breathing. They have no savings or access to credit.

These are the real faces of the world of work. If we don’t help them now, these enterprises will simply perish.” Urgent policy measures needed in term of targeted and flexible measures to support workers and businesses, particularly smaller enterprises, those in the informal economy and others who are vulnerable.

For postdoc, there will be no much changed for the future of PostDoc.

Employee is unable to work due to own or family member’s COVID-19 illness. Postdocs may request use of these hours as they would other paid time away from work. If you like to take a leave of absence for one of the above circumstances, please work with your HR generalist and postdoctoral supervisor. Updates to this policy can be found on the UCSF Coronavirus website.The current agreement between the University of California and the union representing postdoctoral scholars (UAW Local 5810) states that “the total duration of an individual’s postdoctoral service may not exceed five years, including postdoctoral service at other institutions. Under unusual circumstances, the University may grant an exception to this limit, not to exceed a sixth year.”

Nobody knows how long corona pandemic crisis may exist. This could complicate efforts to contain the spread of the disease. Let us wait vaccine to launch market internationally soon.

Ashish

Dear Prof Ashish Thakur Thanks for your detailed explanation.

That's a good question