Some economists also highlight the possibility of durable labour market ‘scarring’, which would risk the permanent loss of skills, and make it more difficult to match labour supply and demand in the future.5 Admittedly, other shifts could be more positive for potential growth.
The sudden imposition of the lockdowns certainly forced many firms to speed up their adaptation to different ways of work and of doing business, which, if implemented on a larger scale in the coming years, could 4  See ‘Productivity and GDP prospects: some gain, much at risk’, Global Economic Outlook and Strategy, Citi Research, August 2020.