One third of the population is in home and struggling world economy. Covid-19 created a disastrous situation in the world. Schools, colleges, offices, theatres, shopping malls everything got shutdown. While this article is being written, the death rate due to this pandemic crossed 2.6 lakhs. Now the governments world over wants the people to stay home and keep themselves hygiene and healthy. Covid-19 create a big impact on the labour market and its signs are already visible within this lockdown.
From a daily wage worker to an IT professional, everyone in the job market is facing an uncertainty in this pandemic. The future is unpredictable and in coming months famine death rate will be high in the underdeveloped nations, especially in Africa.
In US, the unemployment rate increased to its highest in the history at 3.8 crores and in Britain the Central bank estimated 14% decline, in growth in 2020. International Labour organization said that in India, unorganized sector will see a loss of 400 million jobs. ILO also stated that the world would lose $860 billion to $34 trillion in labour income and the Director General of ILO; Guy Ryder said in an Interview that ‘Covid-19 is no longer a global health crisis, it is also a major labour market and economic crisis which can make a huge impact on people’. It can be seen that the entire job hiring trends change after Covid-19 and demand for certain jobs surge, especially in digital services.
Post covid-19 jobs
Covid-19 already opened new job opportunities and it’s the responsibility of the job seekers to acquire the skills that the job market wants.
Self-distancing and ‘work from home’ are becoming buzzwords in the pandemic and in order to work from home, there should be Internet facility. The use of video conferencing apps and Teleworking Software developments increased `during this lockdown. To have a remote work culture through these online meetings and video conferences, better connectivity is needed and hence Telecommunication sector booms in the near future.
E-commerce creates more job opportunities in the coming years. E- commerce is expanding and is deeply penetrating into the markets. Brick and Mortar stores are facing tough competition from E-commerce companies. In India, Amazon and Walmart owned Flipkart are the leading companies in E-commerce. Business tycoon Mukesh Ambani is also coming to the E-commerce with his Jio platform named JioMart in collaboration with the Tech giant; Facebook. Another E-commerce platform is also in talks named ‘Baharat Market’ launched by Confederation of All India Traders. There will be tremendous job opportunities in E-commerce in the coming years as the government is also favouring digital services.
Developments in Technology is getting faster and the job requirements are also changing with the trends in new technologies. In the near future, we will see the application of AI and Automation in our day-to day life. For better connectivity, there will be 5G and automation can be seen in Industries. Companies prefer those who have skills in AI, Blockchain, IoT, Augmented and Virtual reality.
Data analysis is another field and the demand for Business analyst and data analyst will see an increase.
For better digital services, mobile apps are important and there will be a huge demand for Application developers. python and java developers, systems engineers and ios developers.
Fintech companies are innovating in their operations and in the coming years, blockchain will be introduced in Financial technology. Blockchain is in its infant stage and but has high potential and will create new jobs in the market.
Demand for new jobs arise and some present jobs will vanish from the market. The governments are asking people to start a venture on their own and there are financial supports available to achieve this. A good Start up ecosystem invites more investments in the country and booms economy and generate more jobs as the APJ Abdul Kalam said, “the youths should be job generators rather than job seekers”.