In a report by the World Government Summit Foundation

Corona causes the loss of working hours equivalent to 225 million jobs globally

A knowledge report issued by the World Government Summit Foundation revealed that the emerging Corona Virus (Covid-19) pandemic has caused the loss of millions of jobs around the world, and the loss of 8.8% of total working hours, equivalent to 225 million permanent jobs.

The report pointed out that in parallel to the profound changes in business patterns and nature, the world has begun to witness the development of new economic sectors that keep pace with quality economic opportunities capable of producing new quality jobs.

The report, which was prepared by the Foundation in partnership with PricewaterhouseCoopers (PwC) and entitled: “How Governments Can Transform Labor Market Challenges into Opportunities in the Digital and Green Age: Unleashing the Skills Economy to Inspire and Empower the Next Generation of Governments.” It is estimated that about 30% of jobs are at high risk of automation, and this risk may be much higher in some countries.

deep changes

Deputy Director of the World Government Summit Foundation, Muhammad Yousef Al-Sharhan, said that the Corona virus pandemic has brought about profound changes whose effects are still evident in the global economy, as well as in the patterns and nature of work, and concepts of economic values, and these effects have led to an evolution in our concept of jobs and their role in security supply chains, and achieving food, health and technical security for societies.

skills economy

For her part, Randa Bahsoun, Partner at PwC Middle East and Director of the “New World, New Skills” programme, said that the jobs and opportunities offered by a sustainable economy and digital transformations require new skills, as people need to adapt to work alongside technologies. digital.

She stressed that the common factor for the new sectors emerging from the sustainable economy and digital transformations is “skills”, noting that countries that accelerate the development of the concept of “skills economy” where individuals and different technologies complement each other for innovation, will have a competitive advantage, and will be able to provide a strong opportunity to achieve comprehensive and sustainable development.

digitizing activities

The report stated that while automation poses clear risks to jobs, the “digitization” of many economic activities will also create new jobs that require new skills, and artificial intelligence and robots will generate new jobs in a greener and “digitalized” economy that will enhance productivity. It provides job opportunities related to services that are difficult to automate.

He pointed out that the imperative to move towards decarbonization will lead to job losses in the energy and emissions-intensive sectors, but it will provide opportunities in new industries ranging from sustainable energy production and storage, to the efficient use of resources and waste management.

digital solutions

The report estimated that applying digital solutions and artificial intelligence to green transformation could contribute up to $5.2 trillion to the global economy by 2030, while reducing greenhouse gas emissions worldwide by 4%.

He explained that progress in raising the skills of workers is still slow and does not reach large segments of society, indicating that once the current skills gaps are closed, the global economy will get at least 6.5 trillion dollars by 2030, through increased productivity, with the expectation of Broader benefits as a skilled workforce continues to innovate further.

The report stressed that policy makers have a golden opportunity to launch the skills economy, in which individuals feel able to hone their skills and empower them through the labor market and training systems, noting that skills policies are necessary to help increase the supply of skilled workers.

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