Question

What impact will the COVID-19 pandemic have on jobs? | World Economic Forum

• Read the articles (What impact will the COVID-19 pandemic have on jobs? | World Economic Forum)
• Create short summary of the article(about 10 sentences long) by trying to capture only the most important points
• Make a list of the terms/concepts that you have heard/seen for the first time (e.g., supply chain management). Could you understand what they are just reading through the article?  
• Make a list of three things that you did not know before reading it on the article

Answer 1

The US Bureau of Labor Statistics announced 14.7% unemployment rate in April 2020.

Estimates by researchers point out that there will be permanent job loss for 42%of the people who are facing layoffs due to the pandemic.

Covid 19 will have 'profound,long term consequences for the reallocation of jobs, workers, and capital across firms and locations.'

Reallocation of jobs may be good for some sectors but for others it may pose problems.

A forward looking measure of expected job reallocation across theUS firms have been made by researchers.

This has been done by taking newsreports, data provided by Survey of Business Uncertainty  and other sources.

The SBU reveal that layoffs equal to 12.8% on March 1 and new hires equal to 3.8% ie 3 new hires per 10 lay offs.

There has been large scale hiring by retailers,grocers and food delivery firms.

In managing labor needs some companies are becoming creative.

In order to move workers to places they are needed,labor exchanges of grocery chains with hotels are created and retail stores are pairing with big companies.

Terms heard for the first time grocery chain, gig companies. Yes I could understand the article.I did not know about grocery chain, gig companies , reallocation of jobs.