Sunday 29 May 2022

The webinar on labour markets

‘Vital to develop inclusive policies’ that back vulnerable segments

DUBAI, January 19, 2022

A panel discussion noted that in assessing and ensuring a resilient labour market, it is important to develop inclusive policies that support vulnerable yet key segments such as women and youth. 
The discussion on the salient points of Whiteshield Partners’ Global Resilience Index (GLRI) 2022, has evaluated how resilient the labour markets are amid the biggest job crises since the Great Depression. 
The Covid-19 pandemic has significantly impacted labour markets and highlighted vulnerabilities faced by various sectors, particularly women and youth. 
Short term and long-term policies are combined to reduce impact during a crisis and address root causes such as gender-based discrimination. 
As labour markets recover from the pandemic, policymakers should also focus on transforming strategies from crisis risk to crisis response approach, the panel stated. 
Whiteshield Partners, a global strategy and public policy advisory firm, has organised the webinar hosted and moderated by the Harvard Business Review (HBR) Arabia and MIT Technology Review Arabia as part of the Majarra Webinar series. 
Representatives from the consultancy firm shed some light on the importance of resilient labour markets, reducing the gender gap in labour force, and other structural challenges affecting employment. 
Nobel Prize in Economics Awardee Sir Christopher Pissarides, Chair of the GLRI Advisory Board and Director & Special Advisor of Whiteshield led the panel discussions, along with key executives from the consultancy firm including Fadi Farra, Founder and Partner, and Amira Bensebaa, Consultant. 
Farra talked about the need to assess the previous edition of the GLRI in light of the pandemic. He said: “The 2021 report was based on research and analysed the factors behind the resilience of jobs in various markets, such as social, economic, technological, and health. Findings also include fundamental structural challenges and vulnerabilities across the system, resulting in unemployment levels and a disproportionate gender gap in the labour force. Addressing these challenges and cultivating a more resilient labour market entails close collabouration between governments and the private sector.”
Pissarides stressed the importance of a considerate and collaborative approach in addressing the long-term impacts of the pandemic in labour markets. He emphasised: “One of the long-term impacts of the pandemic is digitalisation. With the support of governments, businesses need to direct operations and changes in investments in digital education and upskilling, for instance. We need some good management, training provisions, and continuing education for skills development.”
Bensebaa remarked: “The Covid-19 pandemic enhanced the existing gender gap in labour force. There is a need to create policies focused on providing women access to higher value added and more resilient jobs to address this. We also need to support both the youth and women sectors to re-enter the labour markets and focus on closing gender gaps.”
Whiteshield Partner’s GLRI is launched annually in Davos and provides a guide for the public and private sectors in developing policies to improve employment-related inclusivity and increase efforts in building a resilient labour market, particularly in unforeseen economic, social, or health-based crises.
-- TradeArabia News Service


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