Last spring, the COVID-19 pandemic caused perhaps the worst job losses since the Great Depression. The decrease in the labor force participation rate — from 63.3% to 61.3% — has been steeper than that seen in the Great Recession and is among the largest 12-month declines in the post-World War II era, according to the Pew Research Center and federal labor data.
But for all the pain, this terrifying year could augur potentially positive changes in the workplace. Pandemics change economies, a truth going back centuries. The post-COVID period may well see a transformative, long-lasting effect on employers.
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