Which sectors face the biggest risk of job losses post-Covid?

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Sectors Facing Significant Job Loss Risks Post-Covid-19 Include Hospitality, Culture, and Recreation

A study in Belgium has indicated that a substantial portion of the workforce, estimated at 180,000 individuals or 6% of the total, is at risk of job displacement. Within this group, the hospitality sector, encompassing hotels, cafes, and restaurants, accounts for a quarter of those facing potential redundancy. The culture and recreation sector is particularly vulnerable, representing nearly half of the at-risk workforce. Furthermore, an additional 75,000 self-employed individuals in Belgium anticipate their businesses will fail.
Hospitality and Leisure Sectors Show High Vulnerability

The Belgian study highlights the precarious situation for workers in hotels, cafes, and restaurants, with a quarter of the 180,000 individuals at risk employed in these establishments. This vulnerability extends to the broader culture and recreation sector, which faces even greater potential job losses, comprising almost half of the at-risk population. These sectors are identified as not likely to experience a swift "V-shaped" recovery, suggesting that temporary unemployment schemes may only offer a limited solution.
Self-Employed and Grey Economy Workers Face Uncertainty

Beyond traditional employment, the self-employed population in Belgium is also under significant threat. Approximately 75,000 self-employed individuals believe they are on the brink of business failure. This concern is echoed in Italy, where, despite government assurances, the jobs of self-employed, fixed-term contract service sector workers, and those in the informal or "grey" economy are not expected to be entirely preserved. These groups often lack the same safety nets as formally employed individuals.
Airlines and Retail May Experience Permanent Shifts

Certain industries have already begun to implement job cuts, with airlines being a notable example. Companies such as Ryanair, British Airways, and Air France-KLM have already experienced job losses. Beyond immediate layoffs, there is an expectation of permanent structural changes in some sectors. Retail, for instance, may witness a sustained transition towards online shopping, leading to a lasting reduction in the need for physical storefront employment.

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Which sectors face the biggest risk of job losses post-Covid?

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