COVID-19, Technology, and Polarizing Jobs
COVID-19 is driving economies into recession, putting many jobs at risk. Up to 242 million full-time jobs could be lost globally, with 70% of these in Asia and the Pacific. Informal employees in vulnerable sectors will be hard hit and many middle-skilled workers face being displaced into lower paying work. The pandemic will also spur a digital transformation of work and the workplace.
The brief discusses these issues and suggests policy responses for the region’s developing economies. These include more social protection for the unemployed and vulnerable and investing in digital readiness and skills for the digital economy.