(Bloomberg) –– The international recovery could be job-poor due to technological structural shifts stemming from the Covid crisis, says Warwick McKibbin, a professor of economics at the Australian National University. The crisis has accelerated the takeup of technology that will leave many jobs obsolete, McKibbin, also a non-resident senior fellow at the Brookings Institution in Washington, he said.
“There are going to be many industries that will need to be restructuring,” he said. “There’ll be some industries that may cease to exist, especially if we never get an effective vaccine.” Unemployment has surged across the globe as nations shuttered large parts of their economies.
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