A recent ILO report found that total employment fell by 114 million as a result of the pandemic. While experts forecast job growth in the near future, the ILO report argues that many of the newly created jobs will be of low productivity and poor quality.
In the UK, there has been an increase in job listings; however, because furlough schemes will come to an end in September, a downward trend in employment is expected in the coming months. This begs the question, what can we do to improve economic and job prospects?
At the state level, NextGenerationEU argues that the focus should be on modernizing policies, fighting climate change, and prioritizing gender equality. At the corporate level, the focus needs to be on fostering a more resilient and green economy.
Lastly, at the individual level, workers need to future-proof their careers by focusing on upskilling or reskilling themselves to meet the demands of the new economy.