13 Occupations Hit Hardest by the Pandemic.
PANDEMIC EFFECT ON WORKERS–Many fields popular with older workers have seen layoffs, pay cuts, reduced hours these large numbers mean the pandemic has affected workers in most fields in one way or another, including job loss, reduced pay or reduced benefits. But new research from Gallup finds that workers in some fields have felt the impact more than others. Some sectors most affected are–
pandemic has affected the most-{1}-According to the Gallup findings{US}, these are the occupations that the pandemic has affected the most.
1. Service Workers–Per cent laid off: 34 /Per cent reduced hours: 41 /Per cent reduced pay: 43
2-Education /Healthcare –Per cent laid off: 13/Per cent reduced hours: 31/ Per cent reduced pay: 32
3-Government /Transportation and Utilities/Per cent laid off: 11/Per cent reduced hours: 21/Per cent reduced pay: 22
4-Retail /Construction /Manufacturing/ Mining workers Per cent laid off: /Per cent reduced hours:/ 32Per cent reduced pay: 36
5-Arts, entertainment and recreation– /Per cent laid off: 25 /Per cent reduced hours: 27 /Per cent reduced pay: 48
6-Installation, maintenance or repair workers–Per cent laid off: 14/Per cent reduced hours: 32/Per cent reduced pay: 32
Financial services and insurance/ Insurance agents and brokers/ Financial managers and analysts / Securities and investment managers /: Another financial service worker
The pandemic and the labor market–
The National Institutes of Health issued a report in May 2013 about the effect the economy has had on human health since the recession. One of the key findings was the impact of the recession on workers, who as a result lost jobs and health insurance: “Between 2008 and 2012, the percentage of employed Americans reporting they lost a job during that period increased from 13% to 18%. In the same period, the percentage of Americans who said they stopped working for any reason rose from 9% to 13%. … During the economic downturn, most new job losses were in the private sector, while government job losses have been relatively small. This dynamic is the primary reason the recession’s effects on human health are unlikely to be as profound as those on the world economy.
How did the pandemic affect workers in different fields?
Gallup employed millions of people in 68 countries to find out how their countries are doing now and how they see their future. Gallup asked about five employment areas:
1- Whether their country has experienced layoffs and cuts in working hours;
2- whether they are looking for a new job;
3-whether their job has been replaced with a robot or computer; their health; and how confident they are about their job prospects. In addition, they asked whether the pandemic has affected their satisfaction with their current job. This is the best news-bad news for workers. The good news is that worker satisfaction is high — with about 30% of all workers worldwide reporting being either “satisfied” or “very satisfied.
Occupations Hit-Pandemic affect on workers-
Many older workers do not have a good job market. Even many of the occupations least affected by the pandemic have seen dramatic cuts in employment for older workers. 51% of food preparation workers who are 65 and older have lost their job over the last year, according to Gallup. But even those industries which are not experiencing a large-scale crisis face a number of risks. The list includes many jobs some are:
- Bus drivers /Police officers
- Power plant workers/
- Finance analysts/ Inspection workers
- Airline pilots
- Physicians and surgeons
Not surprisingly, the collapse of the financial industry over the last year has also had a significant impact on older workers who worked in the finance sector.
Conclusion.
Every economic adjustment goes through two phases: (1) before the adjustment and (2) after the adjustment. This is because to adjust to a price change, an industry must first pass through an adjustment phase. Many companies cut their prices to increase sales. Many companies are now passing through this phase, and so fewer companies are suffering severe price declines. However, other companies may still be recovering from the first phase of the adjustment. They may be undergoing further adjustment through further price cuts. Thus, there may still be additional price decreases, which are offset by other adjustments. PANDEMIC AFFECT ON WORKERS
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