The upheaval in global labor markets triggered by the coronavirus pandemic will transform the working lives of millions of employees for good, policymakers and business leaders told a Reuters virtual forum on Tuesday.
"I think it would be a fallacy to think we will go back to where we were before," Philippines central bank Governor Benjamin Diokno told the Reuters Next forum. Hospitality and tourism are among those sectors worst-hit by stringent social-distancing rules and travel bans, while sectors that support the work-from-home economy are adding jobs, albeit often in low-wage roles.
"What we saw for the first six months of pandemic was that employees were much less likely to be looking for something new," he said, adding those workers had now got used to home-working and were above all keen on retaining such flexibility. Australian Competition and Consumer Commission Chairman Rod Sims was pessimistic about the outlook for the aviation industry, seeing no return to normal international travel to and from Australia throughout 2021.
And it's a welcome change. No need to suffer the horrible traffic and do the same thing that can be done at home. Hopefully it becomes the norm. Saves corporations money on office rent and utilities as well.
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