As if finding a job was not tough enough, it seems to have levelled up and is now even harder to find one, especially in the Western job market. Over the past few years, the economic situations have gone through some drastic changes due to a number of factors such as Covid-19, Ukraine-Russia war, recession like situations and much more. While everybody’s focus was on the bigger issues, the job markets were the least priority and has shaped the employment sector negatively, paving the way for today’s huge mismatch between the job seekers and available jobs in the market. This trend of struggle is specially noticed amongst the lower income group segment of the society and students.
Below is a detailed description of the most prominent reasons from the most recent past that has a drastic and significant impact on the job market in the west and the whole world
The Corona Virus Effect
The problem of labor shortage and mismatches was observed during the COVID-19 pandemic. Many businesses got liquidated during the time due to reduced business, forcing people into layoffs and unemployment. Though some industries got back to normal with time, the labor market is still not stable. An advantage with the pandemic was it accelerated hybrid and remote work which showed high reliance on the digital tools, which was very convenient for many, while for few it was a tough pill to swallow adapting to these new practices.
Physical jobs that needs physical duties to be performed such as plumbing, electricians, civil workers were few of the areas where jobs were hit the most due to the pandemic, whereas service based industries such as IT, Financial Services and more were some areas where jobs had comparatively easier transition and did not drastically impacted the job markets.
Economic Slowdown and Government’s Involvement
Post pandemic, the story has not changed as much. It was estimated that the pandemic’s effect will last maybe 1 or 2 years at max, though it is surprising to observe that the impact is still lasting till date. The impact has taken the shape of economic slowdowns and recessions, making the job market turning a bad place to be in, especially for the newer graduates and applicants who are struggling to get a job even for their basic survivals.
The Western governments needs to implement policies that create employment and bring economic stability that too on an urgent basis. Investment in infrastructural projects should be made. Small businesses should be promoted and subsidized. Businesses should be incentivized through various channels, to hire fresh talent. Additionally, arrangements should be made by the government to support those who are struggling for their basic survivals or are stuck in the transitionary phase of the world job markets and economies.
World Conflicts Between Different Nations
Recently global conflicts are on the rise, continually messing up the job scenes, especially in the West. The invasion of Ukraine by Russia has impacted the supply chain industries, leading to impact on industries which depends on energy and supplies. Similarly the tension between India and Canada, which is seen having ties weakening with each passing day, influence trade and ultimately job opportunities in both countries. These conflicts makes the global job markets unpredictable and uncertain.
Future Expectations of Work
the future jobs will be shaped by continuous technological advancements and changing economical situations. This will be an ever changing affair which puts the workforce on the burden of re-establishing themselves again and again so as to stay relevant and be able to fit into new sectors and changing environments. Lifelong learning and flexibility will decide how one will sail through the changing job markets.