Temporary job redeployment may not avert layoffs later
Despite support measures, the large, abrupt shock to the economy may still cause retrenchments and unemployment to rise
Singapore
AS THE novel coronavirus ravages the economy, industries such as aviation have taken a severe beating - pushing some workers in these sectors to in-demand areas like healthcare.
But with some roles added as a result of the pandemic limited in number and only temporary, labour market watchers warn that job redeployment is not enough to avert a looming layoff tsunami.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Cut aid for livestock farms to help climate fight, World Bank says
PM Modi votes as India’s marathon election heats up
US, Chinese climate negotiators meeting on greenhouse gas curbs
Japan’s service activity extends gains on solid demand, PMI shows
Australia’s retail sales volumes fall 0.4% in Q1
Xi bristles at criticism of China over the war in Ukraine