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

Muhammad Azmat Hayat, Mumtaz Anwar Chaudhry, Maryam Batool, Huma Ghulam, Abid Raza Khan, Cristi Spulbar (), Muhammad Zahid Naeem, Ramona Birau () and Maria Magdalena Criveanu
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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
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

Sustainability, 2022, vol. 14, issue 24, 1-14

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.

Keywords: COVID-19 pandemic; skills upgradation; online learning; difference-in-difference; google trends data; social sustainability; labor market; economic sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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