This time, the information and communications technology sector is providing the general-purpose technologies that can drive sustained gains in productivity and incomes. Of course, the mere presence of technology is not enough to guarantee higher productivity. We also need investment, as well as training and organizational changes and flexibility.
Health issues have surely played a role, as COVID has posed a particularly large threat to the lives and health of the elderly. 8 In addition, many older workers lost their jobs in the early stages of the pandemic, when layoffs were historically high.