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Life After COVID: Economic & Job Market Phenomena to Ponder Post-pandemic

White Paper
  |  
Published: 
April 2, 2021

This discussion offers a few thoughts on trends and behaviors that may be more permanently shaped by the events of 2020. Specifically, the focus of this report is on how these trends will impact worker preparation, and which industries and occupations will be most influenced.

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Photo by Maxime on Unsplash

Life After COVID: Economic & Job Market Phenomena to Ponder Post-pandemic

The societal and economic challenge brought onby the COVID-19 pandemic and the government’sstruggle to balance universal health, economicsurvivability and personal freedoms will beremembered for decades to come. How ourinstitutions and individual behaviors will beshaped by the pandemic cannot yet be known.Although we find ourselves on the road toeconomic recovery and with a vaccine becomingwidely available, this pandemic will long leaveits mark on the global economy and the Americanpsyche.

But how — and to what extent — the pandemicwill shape future economic and workplacebehaviors is unknown. There have been manyprognostications over the years that completelymissed the mark. For example, in 2007 formerMicrosoft CEO Steve Ballmer said, “There’s

no chance that the iPhone is going to get anysignificant market share. No chance.” Similar direand unrealized predictions were made for thefuture of the automobile, the telephone, X-rays,copy machines, and rock ’n’ roll music. All of whichaffirms the words of economist John KennethGalbraith, who said, “We have two classes offorecasters: Those who don’t know — and thosewho don’t know they don’t know.”

This discussion offers a few thoughts on trendsand behaviors that may be more permanentlyshaped by the events of 2020. Specifically, thefocus of this report is on how these trends willimpact worker preparation, and which industriesand occupations will be most influenced. Futuristand Megatrends author John Naisbitt onceremarked, “The most reliable way to forecast thefuture is to try to understand the present.” Withthe COVID-19 pandemic, we have witnessed theemergence of some new practices, many of whichwere already evolving, with others unique to thetimes. This white paper considers 15 phenomenathat have captured the headlines in 2020 andlikely will get increased attention as the worldturns toward economic recovery and beyond.

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