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Turning Crisis into a Sustainable Opportunity Regarding Demand for Training and New Skills in Labor Market: An Empirical Analysis of COVID-19 Pandemic and Skills Upgradation

descriptionPublicationkeyboard_double_arrow_right Article 14 Dec 2022Publisher:MDPI AGJournal:Sustainability, volume 14, page 16,785 (eissn: 2071-1050,

Authors: Muhammad Azmat Hayat; Mumtaz Anwar Chaudhry; Maryam Batool; Huma Ghulam; Abid Raza Khan; Cristi Spulbar; Muhammad Zahid Naeem; +2 Authors

doi: 10.3390/su142416785

Turning Crisis into a Sustainable Opportunity Regarding Demand for Training and New Skills in Labor Market: An Empirical Analysis of COVID-19 Pandemic and Skills Upgradation

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Abstract

The COVID-19 pandemic has brought rampant changes in skill needed in the labor market. It has accentuated technological disruption leaving millions in dire need of reskilling and upskilling. In this paper, we empirically analyze the impact of the COVID-19 pandemic related lockdown on the thrust of skills upgradation among people. By analyzing the Google trends data of 13 countries, we test the effect of the lockdown implementations on the urge to upgrade the skills through online searches for skills enhancement. Using difference-in-difference estimation approach, we found a substantial hike in the frequency of search terms related to skills upgradation. Our results suggest that people are utilizing the excess time, made available due to lockdowns, by exploring avenues to enhance their skills to accumulate human capital. The online educational platforms have been proven vital. The findings of this study establish the causal link between use of online education platforms and human capital development.

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Keywords

Environmental effects of industries and plants, online learning, COVID-19 pandemic, TJ807-830, difference-in-difference, TD194-195, social sustainability, Renewable energy sources, Environmental sciences, google trends data, GE1-350, skills upgradation

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