The message is that many manual jobs will be lost. I'm talking about permanent losses, not a halt and continue scenario. The reason for this is because of the economic damage caused by the virus and also the testing and implementation of 4th industrial revolution resources such as programmed machinery and/or robots. Online systems and software will replace most manual labor. And when is the right to test, modify and implement these resources? Now, when most people are lockeddown in their homes.
Let's say a company sends 1 000 people home during this period, and they implement the usage of those equipment to carry on with the labor. The initial aim was not to replace people, but to just keep things running in the company during this tough time. Then the virus phase passes and life continues but the economy is down and so are most companies, they won't afford salaries for employees. So a cheaper method will be maintenance of the systems which were implemented as supplementation for manual labor. You'll find that now 100 workers are called back to work and the remaining 900 are left jobless.
Now that you know the challenges to be faced ahead, my solution or advice is that you should use this time wisely to seek income opportunities, preferably online since current movement is limited, so that you can have something to fall on to should you be one of those who are affected by job cuts. I'm not saying your job is guaranteed to be lost, I'm just saying prepare yourself, don't live in the comfort or luxury of the thought that you have a job waiting for you once the virus has been eliminated from society and lockdown is over, unless if you are the employer.
The harsh aftermath of this virus is going to be felt in the employment sector. A crashing economy leads to crashing employment and interest rates. That's finance.
Let's say a company sends 1 000 people home during this period, and they implement the usage of those equipment to carry on with the labor. The initial aim was not to replace people, but to just keep things running in the company during this tough time. Then the virus phase passes and life continues but the economy is down and so are most companies, they won't afford salaries for employees. So a cheaper method will be maintenance of the systems which were implemented as supplementation for manual labor. You'll find that now 100 workers are called back to work and the remaining 900 are left jobless.
Now that you know the challenges to be faced ahead, my solution or advice is that you should use this time wisely to seek income opportunities, preferably online since current movement is limited, so that you can have something to fall on to should you be one of those who are affected by job cuts. I'm not saying your job is guaranteed to be lost, I'm just saying prepare yourself, don't live in the comfort or luxury of the thought that you have a job waiting for you once the virus has been eliminated from society and lockdown is over, unless if you are the employer.
The harsh aftermath of this virus is going to be felt in the employment sector. A crashing economy leads to crashing employment and interest rates. That's finance.