Covid will force 18 mn Indians to find a new occupation by 2030: Report

The pandemic will have a lasting impact on labour markets, a report said on Friday

COVID-19 will have a lasting impact on labour markets, and as much as 18 million Indian workers will be forced to switch to a newer occupation by 2030 because of the pandemic, a report said on Friday. The impact will be “disproportionately” felt on low-wage workers in retail, food services, hospitality, and office administration, the report by McKinsey Global Institute, a think-tank, said.

The pandemic has disrupted labour markets because companies have been forced to respond to a new dimension of work – physical proximity, an official statement explained. The report identifies the lasting impact of COVID-19 on labour demand, the mix of occupations, and workforce skills required in eight countries including India.

Three broad changes in consumer behavior and business models will persist to varying degrees because of the pandemic which include the rise of remote work, the increased embrace of e-commerce and virtual interactions, and the more rapid deployment of automation and AI (artificial intelligence), it said. This will lead to a reshuffling of jobs in the economy over a decade, and over 100 million workers will have to find a new job, it said, adding 18 million of those will be in India itself.

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