Sectors Most Vulnerable to the Impact of Covid-19

Economics & Macro

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Dwi Hadya Jayani 07/09/2020 06:43 WIB

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The sectors most affected are wholesale and retail trade, financial services, real estate, and accommodation, food, and beverage services.

Job Flexibility in 17 Industrial Sectors

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Sectors Most Vulnerable to the Impact of Covid-19

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Job Flexibility in 17 Industrial Sectors

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The Indonesian Demographic Institute of the Faculty of Economics and Business, University of Indonesia (LD FEB UI) has ranked 17 sectors impacted by Covid-19. The top four sectors were the most severely affected: wholesale and retail trade; financial services; real estate; and accommodation, food, and beverage services.

These four sectors employ 34.8 million workers, equivalent to 27.3% of the total workforce. However, the report mentions that these four sectors are vulnerable to layoffs (PHK) when their productivity declines.

This calculation is based on employment elasticity. Employment elasticity describes how much labor can be absorbed if a sector experiences 1% growth. The higher the elasticity, the more labor is absorbed when the sector grows by 1%. Conversely, when contracting, sectors with high elasticity will also lay off more workers.

Editor : Aria W. Yudhistira

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."