Covid-19 has created structural changes in the workplace

SOME economists welcome sharp economic downturns because of the "cleansing effects of recessions". They often refer to the concept of "creative destruction", developed by the Austrian-born economist Joseph Schumpeter in the 1950s.

THE BOTTOM LINE

It could be a K-shaped recovery in the labour markets too

IN EVERY recession, there is a lively debate among economists as to whether the eventual economic recovery will be "L-shaped", "V-shaped" or "U-shaped".