People who had given up looking for work found jobs and returned to the labour force. Unfortunately, the pandemic has undone these employment gains and more. -8Moreover, COVID-19 may accelerate some of the global forces that could make growth less inclusive. The use of digital technology has accelerated as COVID-19 drives households and businesses to do more online.
Like earlier waves of innovation, digitalization can be expected to lead to broad economic gains and higher living standards over time. But there are risks, particularly in the transition. In the early days, lower- and middle-income workers are likely to bear much of the initial cost of displacement (although even higher-paying jobs are increasingly not immune).