INSUBCONTINENT EXCLUSIVE:
They worry about labour shortages that will likely last beyond not just the pandemic, but the next downturn too
Deeper forces, such as changes in population and immigration, are shrinking the pool of workers they can hire from
All of this means that despite weakening demand for their goods and services, many businesses are looking to retain or even add staff,
of high-profile lay-off announcements lately, from the likes of Amazon and Goldman Sachs Group
But they may prove to be outliers
That would make the coming economic slowdown very different, and in some ways less painful, than the ones the world has gotten used to
Bloomberg Economics projects that unemployment will rise by about 3.3 million across developed economies by 2024, a period in which most are
expected to suffer recessions
The jobless rate in major developed economies, at 4.4 per cent in September, is the lowest since the early 1980s, said the Organisation for
Economic Cooperation and Development.
This time, white-collar industries including business services, tech, banking, and real estate, where
staffing numbers are far above pre-Covid levels and layoffs have already begun, may be more vulnerable to job cuts.
