Australia’s Covid Jobs Crisis Can Last A Long Time
- Written by News Company
Most economists think that the current coronavirus pandemic is going to accelerate the structural changes that are so necessary for the labour market. 30 years past since the last Australian recession and the country did come out stronger than ever afterwards. However, this might not be the case right now if authorities and Australian business owners do not act fast.
The big problem is that we are now looking at a global pandemic and a recession. Service providers like fixitrightplumbing.com.au ended up struggling because people are struggling. We are looking at households that are indebted.
Numerous thriving sectors of the economy entered a shutdown in just days, especially those that relied on consumer-facing workers. This includes hospitality, travel, and entertainment. Eventually, even jobs that were labelled as being future-proof ended up being affected.
Countless companies ended up laying off their workers because of the fact that they did not see the customers coming back. As a result, consultants and economists think this Australian crisis is going to accelerate structural modifications.
During the past recessions, it was manufacturing that was vulnerable. Right now, we see this sector making up only 7% of the workforce but during the seventies, we were talking about 20%. In the past, the solution was automating jobs. This will also be the solution now.
The jobs that involve simple tasks we can codify will end up disappearing because of clerical jobs and machine operators. Middle-income jobs can be considered threatened right now. At the same time, there is an increase in high-skilled and low-skilled opportunities.
We should also see the public sector expanding in the following years. The government has access to the resources needed to make it happen and the authority required for changes. The government needs to be strong so that the economy and the people can be protected.
What we do not know is what will happen in the future when looking at the arts industry. This is because thousands of people ended up unemployed as the coronavirus started. Due to such a development, if another outbreak appears and the government is not ready, it is a certainty that problems can occur.
The key transferable skills, like data analytics, digital literacy, robotics, AI, and cybersecurity will surely be crucial, especially for younger people. However, soft skills like problem-solving, critical thinking, creativity, and emotional intelligence will also mark the future of employment. Basically, we will have new jobs that will arise.
It is virtually impossible to predict what the jobs of the Australian future will be. This is because any such prediction was always wrong in the past. What we do know though is that younger people are going to have access to many jobs and careers. Also, learning while on the job is going to be very important. However, this will only be the case after we go over the current crisis.
Australia is going to recover from the recession and the effects of the coronavirus pandemic but we do not know how long that will take.
Daily Bulletin
