Report
Patrick Artus

Towards mass unemployment linked to the transformation to the digital economy?

The COVID crisis, and probably the expectation that other health crises could erupt in the future, will drive the transformation to the digital economy, with, for example: The automation of industry and, in some cases, construction, to offset productivity losses caused by new health rules; The shift from traditional retail to online retail; The shift from office work to working at home; the replacement of business travel with video-conferencing; The automation of many tasks (cashiers, bus and taxi drivers, etc.); The replacement of some performing arts and tourism with online culture. One could certainly think of other changes. To be sure, these developments will lead to job creation in robotics, artificial intelligence, e-commerce, telecommunications, payment methods, internet services, data management and digital media. But the job destruction in industry, construction, traditional retail, commercial real estate, air and land transport, culture and tourism will be much greate r.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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