Unemployment: Covid-19 vs global financial crisis – remote workers fare better

Analysis by the International Monetary Fund (IMF) comparing 2020 with the 2008 global financial crisis indicates that remote workers are likely to cope better in recessions in general (see the chart; one of its top for 2020). Teleworkers have generally fared better than individuals working for companies reliant on bricks-and-mortar premises in shrinking economies this year as well as after the debt-induced 2008 shock – with fewer losing jobs compared to those in roles not suited to remote working.

This is because individuals who are able to work from home are generally highly skilled and better educated and therefore less vulnerable to losing their jobs, says the organisation. A reminder, in this period of self-reflection and personal goal development, of the importance of building continual learning and the development of skills suited to a fast-changing, digital world into your plans.

PS: Speaking of learning: Free audio book download for BizNews community members who have an appetite for developing their leadership skills. Business leadership expert Tracey Swanepoel quotes academic Henry Mintzberg, who says: “Leadership is a practice – a set of deliberate actions – if they are not in your diary, they are not going to happen.” For clarity on how to make leading a daily practice, listen to Chapter 6 of Swanepoel’s The Leadership Riptide – and How to Escape: https://iono.fm/e/973443. The book starts here: https://iono.fm/c/5894.

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