3.28 million people in the U.S. filed for unemployment last week. Only three weeks ago, just 200,000 people applied for jobless benefits in the US, a historically low number. In the half-century that the government has tracked applications, the most applications filed in a single week had been fewer than 700,000.
Numerous countries including the UK, Canada, and the US have put financial easing measures in place to help employees suddenly out of work and employers grappling to handle the new norm.
In HRchat 160, Bill Banham speaks with Andi Britt, Vice President Talent & Transformation Europe at IBM about Covid-19’s unprecedented impact on global unemployment rates, what the latest employment figures actually mean, and how AI and automation may step in to fill the gaps.
Listen to this interview with Andi Britt to hear his thoughts on:
- What do these crazy unemployment rates mean? Are these numbers short term or is this the start of a massive recession and a collapse long-term in employment rates?
- What will the jobs market look like in three to six months?
- What are the challenges for HR departments right now and what will be the challenges for HR in three to six months?
- Given the huge swathes of layoffs as a result of coronavirus, will we see many companies accelerating their efforts to adopt new automated alternatives to duties performed by humans as they look to futureproof their businesses from the repercussions of a potential second wave of Covid-19 later in 2020?
- Will big numbers of workers not have jobs to go back to?
- Will we see a big increase in upskilling and reskilling so that employees can adapt to working in new or more augmented roles?
About Andi Britt
Andi leads IBM’s European Talent & Engagement Practice, providing human capital management, HR, recruitment outsourcing and organizational change management services to clients. He specializes in IT-led enterprise transformation as well as HR and learning. Andi is a regular speaker and presenter on IBM’s HR research, change management, and mobile, social and cognitive innovation.