Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean

The economic impact of COVID-19 is unprecedented in size and scope. It has quickly evolved from a health emergency into an employment crisis. It also has far-reaching implications for workers beyond the immediate employment effects, as it most likely has accelerated the transformation process of job...

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Main Authors:	Beylis, Guillermo, Fattal-Jaef, Roberto, Sinha, Rishabh, Morris, Michael, Sebastian, Ashwini Rekha
Format:	Book
Language:	English
Published:	Washington, DC: World Bank 2020
Subjects:	CORONAVIRUS COVID-19 PANDEMIC IMPACT PANDEMIC RESPONSE EMPLOYMENT CRISIS LABOR MARKET TECHNOLOGY ADOPTION SOCIAL PROTECTION POLICY ELECTRONIC PLATFORM DIGITAL ECONOMY DIGITAL DIVIDE FORMALIZATION
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/737751601353596777/going-viral-covid-19-and-the-accelerated-transformation-of-jobs-in-latin-america-and-the-caribbean http://hdl.handle.net/10986/34413

id	okr-10986-34413
recordtype	oai_dc
spelling	okr-10986-344132021-05-25T09:32:19Z Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean Beylis, Guillermo Fattal-Jaef, Roberto Sinha, Rishabh Morris, Michael Sebastian, Ashwini Rekha CORONAVIRUS COVID-19 PANDEMIC IMPACT PANDEMIC RESPONSE EMPLOYMENT CRISIS LABOR MARKET TECHNOLOGY ADOPTION SOCIAL PROTECTION POLICY ELECTRONIC PLATFORM DIGITAL ECONOMY DIGITAL DIVIDE FORMALIZATION The economic impact of COVID-19 is unprecedented in size and scope. It has quickly evolved from a health emergency into an employment crisis. It also has far-reaching implications for workers beyond the immediate employment effects, as it most likely has accelerated the transformation process of jobs that had already started in the region and the world. This book focuses on three important pre-pandemic trends observed in the region—namely, premature deindustrialization, servicification of the economy, and task automation—that were significantly changing the labor market landscape in the region and that have been accelerated by the crisis. While there is still uncertainty about the economic impacts of Covid-19, policymakers need to start planning for a rapidly evolving future that will come sooner than expected. A strong focus on productivity, technology development and adoption, and training in relevant skills will be key to adapting and taking advantage of the new opportunities in the post-pandemic world. Importantly, the accelerated transformation of jobs calls for a rethinking of labor regulations and social protection policies geared towards wage earners employed in the formal sector of the economy. The three trends identified in Going Viral, the effects of the pandemic itself, and the growing reliance on electronic platforms raise doubts that wage employment will increase substantially in the coming years. At the same time, earnings and transactions processed through electronic platforms are more visible to the authorities, bringing an opportunity to increase tax revenue and social security contributions. The flexible regulation of the emerging forms of work in a way that encourages employment, supports formalization, and expands the coverage of social protection to larger segments of the population will be of utmost importance for policymakers preparing for a new and changed world. 2020-09-02T16:26:46Z 2020-09-02T16:26:46Z 2020-09-28 Book https://documents.worldbank.org/en/publication/documents-reports/documentdetail/737751601353596777/going-viral-covid-19-and-the-accelerated-transformation-of-jobs-in-latin-america-and-the-caribbean 978-1-4648-1448-8 http://hdl.handle.net/10986/34413 English World Bank Latin American and Caribbean Studies; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication Latin America & Caribbean Caribbean Central America Latin America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CORONAVIRUS COVID-19 PANDEMIC IMPACT PANDEMIC RESPONSE EMPLOYMENT CRISIS LABOR MARKET TECHNOLOGY ADOPTION SOCIAL PROTECTION POLICY ELECTRONIC PLATFORM DIGITAL ECONOMY DIGITAL DIVIDE FORMALIZATION
spellingShingle	CORONAVIRUS COVID-19 PANDEMIC IMPACT PANDEMIC RESPONSE EMPLOYMENT CRISIS LABOR MARKET TECHNOLOGY ADOPTION SOCIAL PROTECTION POLICY ELECTRONIC PLATFORM DIGITAL ECONOMY DIGITAL DIVIDE FORMALIZATION Beylis, Guillermo Fattal-Jaef, Roberto Sinha, Rishabh Morris, Michael Sebastian, Ashwini Rekha Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
geographic_facet	Latin America & Caribbean Caribbean Central America Latin America
relation	World Bank Latin American and Caribbean Studies;
description	The economic impact of COVID-19 is unprecedented in size and scope. It has quickly evolved from a health emergency into an employment crisis. It also has far-reaching implications for workers beyond the immediate employment effects, as it most likely has accelerated the transformation process of jobs that had already started in the region and the world. This book focuses on three important pre-pandemic trends observed in the region—namely, premature deindustrialization, servicification of the economy, and task automation—that were significantly changing the labor market landscape in the region and that have been accelerated by the crisis. While there is still uncertainty about the economic impacts of Covid-19, policymakers need to start planning for a rapidly evolving future that will come sooner than expected. A strong focus on productivity, technology development and adoption, and training in relevant skills will be key to adapting and taking advantage of the new opportunities in the post-pandemic world. Importantly, the accelerated transformation of jobs calls for a rethinking of labor regulations and social protection policies geared towards wage earners employed in the formal sector of the economy. The three trends identified in Going Viral, the effects of the pandemic itself, and the growing reliance on electronic platforms raise doubts that wage employment will increase substantially in the coming years. At the same time, earnings and transactions processed through electronic platforms are more visible to the authorities, bringing an opportunity to increase tax revenue and social security contributions. The flexible regulation of the emerging forms of work in a way that encourages employment, supports formalization, and expands the coverage of social protection to larger segments of the population will be of utmost importance for policymakers preparing for a new and changed world.
format	Book
author	Beylis, Guillermo Fattal-Jaef, Roberto Sinha, Rishabh Morris, Michael Sebastian, Ashwini Rekha
author_facet	Beylis, Guillermo Fattal-Jaef, Roberto Sinha, Rishabh Morris, Michael Sebastian, Ashwini Rekha
author_sort	Beylis, Guillermo
title	Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
title_short	Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
title_full	Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
title_fullStr	Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
title_full_unstemmed	Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean
title_sort	going viral : covid-19 and the accelerated transformation of jobs in latin america and the caribbean
publisher	Washington, DC: World Bank
publishDate	2020
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/737751601353596777/going-viral-covid-19-and-the-accelerated-transformation-of-jobs-in-latin-america-and-the-caribbean http://hdl.handle.net/10986/34413
_version_	1764478593615790080

Going Viral : COVID-19 and the Accelerated Transformation of Jobs in Latin America and the Caribbean

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