Turning Crisis into a Sustainable Opportunity Regarding Demand for Training and New Skills in Labor Market: An Empirical Analysis of COVID-19 Pandemic and Skills Upgradation
Sustainability
; 14(24):16785, 2022.
Article
in English
| MDPI | ID: covidwho-2163591
ABSTRACT
TheCOVID-19 pandemic has brought rampant changes in skill needed in the labor market. It has accentuated technological disruption leaving millions in dire need of reskilling and upskilling. In this paper, we empirically analyze the impact of the COVID-19 pandemic related lockdown on the thrust of skills upgradation among people. By analyzing the Google trends data of 13 countries, we test the effect of the lockdown implementations on the urge to upgrade the skills through online searches for skills enhancement. Using difference-in-difference estimation approach, we found a substantial hike in the frequency of search terms related to skills upgradation. Our results suggest that people are utilizing the excess time, made available due to lockdowns, by exploring avenues to enhance their skills to accumulate human capital. The online educational platforms have been proven vital. The findings of this study establish the causal link between use of online education platforms and human capital development.
Full text:
Available
Collection:
Databases of international organizations
Database:
MDPI
Language:
English
Journal:
Sustainability
Year:
2022
Document Type:
Article
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