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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

Author

Listed:
  • Muhammad Azmat Hayat

    (Department of Economics, University of the Punjab, Lahore 54590, Pakistan)

  • Mumtaz Anwar Chaudhry

    (Department of Economics, University of the Punjab, Lahore 54590, Pakistan)

  • Maryam Batool

    (Department of Economics and Business Administration, University of Education, Lahore 54000, Pakistan)

  • Huma Ghulam

    (Department of Economics and Business Administration, University of Education, Lahore 54000, Pakistan)

  • Abid Raza Khan

    (Department of Economics, University of the Punjab, Lahore 54590, Pakistan)

  • Cristi Spulbar

    (Department of Finance, Banking and Economic Analysis, Faculty of Economics and Business Administration, University of Craiova, 200585 Craiova, Romania)

  • Muhammad Zahid Naeem

    (School of Business and Economics, University of Brunei Darussalam, Darussalam BE1410, Brunei)

  • Ramona Birau

    (Faculty of Economic Science, “Constantin Brâncuși” University of Târgu Jiu, 210185 Târgu Jiu, Romania)

  • Maria Magdalena Criveanu

    (Faculty of Economics and Business Administration, University of Craiova, 200585 Craiova, Romania)

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.

Suggested Citation

  • Muhammad Azmat Hayat & Mumtaz Anwar Chaudhry & Maryam Batool & Huma Ghulam & Abid Raza Khan & Cristi Spulbar & Muhammad Zahid Naeem & Ramona Birau & Maria Magdalena Criveanu, 2022. "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," Sustainability, MDPI, vol. 14(24), pages 1-14, December.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:24:p:16785-:d:1003363
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    References listed on IDEAS

    as
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