But, that is not the only concern at the moment. The virus has escalated and is having severe ramifications on other sectors as well. The economy is dwindling with time as people lose their jobs, which raises the question that many fear most:
Will We Still Have Jobs After Corona Virus?
The answer to this question may be multi-faceted and depends on other factors as well. But to confirm the fear of many, it has been reported that more than 5.2 million people had filed for unemployment benefit by April 16, 2020, and the numbers keep rising.
Sectors such as hotels, airlines, department stores, and restaurants, among others, are currently facing an uncertain future. With reports that job losses will continue, one may be forgiven for asking the question.
According to Forbes, we may see other jobs lost completely while some posts may come up as a result of the Coronavirus. But let’s face it, at the moment the most in-demand sector is health work. Hard-hit countries like Italy and Spain are currently overwhelmed because the numbers of doctors and health practitioners do not match the demand as patients pour in large numbers every day.
It has taken the joint effort of other countries like Germany, China, and Cuba to send in more doctors to help diffuse the situation. That is evidence enough that health workers are needed in large numbers.
Additionally, the Forbes confirmed that large tech companies are still growing at the moment, with many of them hiring more workers despite the economic dilapidations caused by Covid-19.
Stay at Home
Accordingly, many governments have issued directives for people to stay and work from home, if possible. Such guidelines, coupled with the fact that institutions like schools and universities are closed, have contributed to the growth of online businesses. Take online video games, for instance. Adults and children that are housebound are looking for alternative ways of keeping busy, and their go-to options have been video games. Conversely, online marketplaces like Amazon are even hiring more workers for their Fulfillment by Amazon program.
The prominent online presence of big players like Google, Apple, and Netflix has enabled them to perish where other companies are staring at possible extinction. Any other company that does not rely on physical locations is likely to survive the negative implications of the Coronavirus pandemic. Pharmacy chains and groceries that do deliveries are also on the safe side as demands for indoor deliveries continue to rise by the day. This should come as good news to people involved in these sectors or who can conduct their businesses through the internet without any commercial interruption.
The Future is Becoming Bleaker for Some Industries
Many people are losing their jobs as companies continue to lay off staff to reduce the cost of operations due to reduced or no demand at all. There is no denying that lockdowns and other measures put in place to slow the spread of the Coronavirus are exerting more pressure on the global economy. And if things will continue this way, we can be sure to expect a severe recession. It is clear that we may come to point when the pandemic is behind us. Still, we will never get to the point of “business as usual.”
As stated earlier, some department stores, specialty retailers, and malls will have to do with job sheds and close business. That is down to the fact that people are currently staying indoors, and there is no express precision on when things might change. Big players like Nordstrom, Macy’s, and Neiman Marcus have come to terms with the reality and announced the closing of business indefinitely. The situation is even worse for small businesses in the same sector, and that translates to massive loss of jobs.
The travel, hotels, and restaurant industry is perhaps the most affected area that will have to contend with savage job cuts. At the moment, there are few if no international travels as fear to travel and government directives to ban travels take effect. The entertainment and sports sectors are not spared either. All major sporting events are either canceled or postponed indefinitely. Events and concerts are also banned as a measure to enforce the no-gatherings rule. All these effects lead to massive job losses, and we are not sure if things will get back to normal. It is evident that when we are over, the coronavirus pandemic sports and concerts will resume, but predictions are that we are facing a watered down affair in the era to come.
The manufacturing industry has also had to down tools for the moment while the safety of workers becomes a priority, health safety to be precise. The question of their economic security now and after the pandemic is quite challenging. And as more and more people face an uncertain future, we are left to wonder what will happen next.
The Bottom Line
There are many possibilities, all of which are imagines of cause. The aftermath depends on our response to the Coronavirus and government policies at this time of economic hardship. Hopefully, society will use the coronavirus pandemic to rebuild relations and act as one unit to ensure that the future is not as may fear; otherwise, we may face something worse.