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Economic Analysis: Theory and Practice
 

Post-pandemic transformation of the labor market

Vol. 20, Iss. 4, APRIL 2021

Received: 28 January 2021

Received in revised form: 15 February 2021

Accepted: 3 March 2021

Available online: 29 April 2021

Subject Heading: ANALYSIS OF HUMAN CAPITAL

JEL Classification: A12, E02, E03, J08, J64

Pages: 684–696

https://doi.org/10.24891/ea.20.4.684

Dinara R. ORLOVA Financial University under Government of Russian Federation, Moscow, Russian Federation
DROrlova@fa.ru

https://orcid.org/0000-0002-2901-070X

Yuliya S. OTMAKHOVA Central Economics and Mathematics Institute, RAS (CEMI RAS), Moscow, Russian Federation
otmakhovajs@yandex.ru

https://orcid.org/0000-0001-8157-0029

Irina A. PUZYREVA Financial University under Government of Russian Federation, Moscow, Russian Federation
xxxa22a29@gmail.com

https://orcid.org/0000-0001-9966-0540

Subject. One of the most important effects of the pandemic on the economy is the labor market transformation. It is projected that there will be a structural transformation of the map of in-demand professions and competencies. The labor market will adapt to the requirements of maximum digitalization of the labor functions process implementation.
Objectives. The aim is to study the effects of the COVID-19 pandemic on the labor market. Our tasks are to investigate the impact of the pandemic on various sectors of the economy, identify new professions in the new environment, find out the skills demanded by employers during the COVID-19 pandemic.
Methods. The study employs dialectical and systems approaches, general scientific methods of logical and comparative analysis to achieve the intended objective and solve the problem of determining the post-pandemic changes in the labor market.
Results. We identified short-term and long-term market transformations caused by the COVID-19 pandemic. They result in changes in basic competencies and systemic restructuring of the structural and professional component of workforce.
Conclusions. The pandemic has a complex and ambiguous effect on the labor market. Companies are committed to accelerating the digitalization of work flows, education, expanding the remote work, and automating tasks within the organization. The impact of the pandemic should be addressed by supporting the displaced workers and monitoring the new opportunities in the labor market.

Keywords: coronavirus pandemic, consequence, labor market, transformation, unemployment

References:

  1. Abi Adams-Prassl, Boneva T., Golin M., Rauh C. Inequality in the Impact of the Coronavirus Shock: Evidence from Real Time Surveys. IZA Discussion Papers, 2020, no. 13183. URL: Link
  2. Baldwin R. The Globotics Upheaval: Globalization, Robotics and the Future of Work. URL: Link
  3. Brussevich M., Dabla-Norris E., Khalid S. Who will Bear the Brunt of Lockdown Policies? Evidence from Tele-workability Measures Across Countries. IMF Working Paper, 2020, no. 20/88. URL: Link
  4. Barrero J.M., Bloom N., Davis S.J. COVID-19 is also a Reallocation Shock. Becker Friedman Institute Working Paper, 2020, no. 2020-59. URL: Link

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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