Why the pandemic left long-term scars on global job market

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When the viral pandemic slammed violently into the U.S. economy a year ago, igniting a devastating recession, it swept away tens of millions of jobs.

Hotel housekeeper Esther Montanez poses outside the Hilton Back Bay, Friday, March 5, 2021, in Boston. Montanez refuses to give up hope of returning to her cleaning job at the hotel, which she held for six years until being furloughed since March 2020 due to the COVID-19 virus outbreak.

“The truth is, I want my job back,’’ said Montanez, who has banded with her former colleagues and worked through their union to press the hotel to reinstate their jobs. Will business travel fully rebound now that companies have seen the ease with which co-workers can collaborate on video platforms at far less cost?

In a study, José María Barrero of Mexico’s ITAM Business School, Nick Bloom of Stanford University and Steven Davis of the University of Chicago concluded that 32% to 42% of COVID-induced layoffs will be permanent. The coronavirus recession has been especially cruel, victimizing people at the bottom of the pay scale. Lael Brainard, one of the Federal Reserve's governors, said last month that the poorest 25% of American workers were facing “Depression-era rates of unemployment of around 23%’’ in mid-January — nearly quadruple the national jobless rate.

Just 26 of 45 workers on her team were brought back. Existing self-service kiosks used to be optional for guests checking in. No longer. Now, agents must direct guests to the kiosks and intervene only if needed. That means fewer commissions for room upgrades; guests can request them on their own.“At this point," she said, “they have to move on with their lives.”

The services occupations that have absorbed the biggest job losses, they say, “have high susceptibility to automation.’’ That “raises the prospect that as the economy recovers, at least some of the jobs lost may not be reinstated.’’ Consider commercial airlines. Lufthansa’s workforce shrank from 138,000 to 110,000 in 2020. British Airways plans to cut 12,000 jobs from its 42,000-strong workforce. UK-based regional airline Flybe took 2,000 jobs with it when it collapsed a year ago.

Around the world in the Chinese city of Xuzhou, northwest of Shanghai, Guan Li, a convenience store owner, said he hired four out-of-work relatives but had to lay them off after sales fell by half. Now, he and his wife run the shop themselves. Yet she remains optimistic that the Fiserv Forum will reopen and that she will one day be mixing drinks for Bucks fans again.In New York, Bill Zanker is also envisioning a comeback after being forced to close his luxury gym, Grit Bxng. He's raising money to launch an at-home fitness business in the fall, which will mean eventually hiring to support a online business, including customer service and supply specialists.

 

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And then some. It also showed people for who they are. Those staying at home, social distancing and wearing masks followed orders while others have thrown temper tantrums, stomped indignant feet and pouted like bad children. This thing will stay as long as they do.

And they say it will come ROARING BACK HOW ?

It’s so sad what’s happened the last year. Just a horrendous nightmare

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The virus didn’t do anything - the idiotic quarantine policies is what destroyed the economy. FL is a perfect example that it wasn’t a necessity to stop all activity under the sun because at the end of the day, what is the point of living if the quality of life is not good?

Correction - When a president of the United States deliberately and with malice withheld aid and resources the viral pandemic slammed violently into the U.S. economy a year ago, igniting a devastating recession sweeping away millions of jobs. That's what you meant to say.

Yes, and any other POTUS, Republican or Democrat, would’ve done so much more to prepare our country, our hospitals, our economy and, even would’ve helped our allies, to mobilize Americans and fight against it from letting it spread and ultimately extinguish it much better!

And this whole time I thought it was because of Trump!

economic equality happy people!

Imagine those that were struggling before the pandemic

The viral pandemic didn't nor can it slam violently into an economy, it's a virus. Only government policy and government wars do such things.

And the reason it hit the United States so hard was the complete and confidence of trump and the Republican administration in charge. They failed to act, their first impulse was to steal from the American taxpayer and put Jared in charge of it all how did that work out for us?

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“Originator of the heavens and the earth. When He decrees a matter, He only says to it, “Be,” and it is.” Quran: [2:117]. The Quran; The Final Word From God; The Creator Of Everything.

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