The Covid-19 crisis not only affected the daily waged labours, but also many businesses are experiencing severe economic difficulties. Covid-19 has stalled the employment career, businesses all over the world whereby people are becoming unemployed.
As much as 18 million Indian workers will be forced to switch to a newer occupation by 2030 because of the pandemic, a report said on Friday. The impact will be ''disproportionately'' felt on low-wage workers in retail, food services, hospitality, and office administration, the report by McKinsey Global Institute, a think-tank, said.
The report identifies the lasting impact of COVID-19 on labour demand, the mix of occupations, and workforce skills required in eight countries including India.
The pandemic has disrupted labour markets because companies have been compelled to respond to a new dimension of work - physical proximity, an official statement explained.
This will lead to a reshuffling of jobs in the economy over a decade, and over 100 million workers will have to find a new job, it said, adding 18 million of those will be in India itself.
In India, the share of total work hours expended using physical and manual skills will decline by 2.2 percentage points, while time devoted to technological skills will rise 3.3 percentage points, it said.
“The long-term effects of the virus may reduce the number of low-wage jobs available, which previously served as a safety net for displaced workers,” Susan Lund, a partner at McKinsey Global Institute (MGI), said.
These workers will need to prepare themselves to find work in occupations with higher wages that require more complex skills, such as jobs in health care, technology, teaching and training, social work, and human resources, Lund added.
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