 Good late afternoon from Abu Dhabi. I'm John Defterius, emerging market senator for CNN and welcome to our Scenarios for a Jobs Reset. It's been a pleasure to co-develop this session with the team from the World Economic Forum directly linked to the release today of the Future of Jobs Report. Our objectives here for the next 45 minutes are very straightforward to assess where we've been in the 10 months since the start of the pandemic and most parts of the world that started earlier in China. Explore the have and have not industries if you will, technology and how it's exploded since the need from work from home and the adjustments to office life as we see it today and traditional industries particularly manufacturing which has been dislocated because of the pandemic. We of course will delve into layoffs, re-skilling and rebuilding the workforce and certainly want to address gender inequality and the fallout for youth. We have a superb lineup for our discussion this afternoon. One of the co-chairs of the summit, a co-author of the Jobs Report, the minister of startups joining us from Algeria and a major industrial group from Turkey which is across a number of different sectors which makes it even more relevant for the discussion today. Let me introduce them. First joining us from Algiers is minister Yasin Walid. He's the minister of startups. He is the youngest minister in fact in North Africa at 26 years old with a big task ahead to start up that sector. Ebru Osmanmar is the chairperson of the board for Limak Holding in Ankara. It's good to see her. Guy Ryder, director general of the international labor organization out of Geneva and one of the co-chairs of this meeting and Sadia Sahidi as manager director of the World Economic Forum and as I mentioned in my opening remarks there the co-author of the report today has put a lot of effort into getting the full comprehensive view of the jobs market today re-skilling and then what's likely to happen between now and 2025. We have four panelists 45 minutes. We're taking questions on our platform as well. We'll try to get to those when we can after we kind of delve into the key issues I mentioned here. For those on social media it's hashtag jobs reset if you hear things that you like to delve into to push it out onto social media and we ask you to use the at WEF or at WEF handle for Twitter at the same time. Before we get the conversation going we have a brief video that outlines the key elements of the report today. Let's take a look at that and I'll be right back with you for the discussion. COVID-19 is one of the biggest crises of our time. It has impacted every single one of us shaken our social systems and disrupted every sector of our economies. The automation of work combined with the global recession led workers to lose their jobs at an accelerated pace compared to previous years and this trend is expected to continue. The ongoing shift in the division of labor between humans, machines and algorithms might displace 85 million jobs worldwide in the next five years while 97 million new roles ones that are more adapted to this new task distribution may emerge. By 2025 companies expect to displace roughly six percent of their total workforce one in two workers will need reskilling and those remaining in their current roles will need to update 40 percent of their skillset to adapt to the changing labor market. There is a way to collectively benefit from these challenging times. Decades of research have shown that the most valuable asset of any economy or company is its human capital. Around the globe companies are already experiencing a shortage in relevant skills for future roles and are investing in reskilling and upskilling their workforce. By 2025 organizations say they will train over 70 percent of their employees to ensure they can smoothly transition into the jobs of tomorrow. These include DevOps engineers, artificial intelligence specialists, digital marketing managers, talent acquisition specialists and customer success specialists. It will take on average between two weeks and five months for workers to pick up new skills allowing them to move into these new roles but data shows they won't need to have the perfect skill set to start transitioning. While two-thirds of employers expect to get a return on investment in employees reskilling programs within just one year governments will also need to step in to update and fund education and training systems and to ensure displaced workers have adequate safety nets. With purposeful leadership and collaboration we can turn this global crisis into a unique opportunity to transition into a future of jobs that is inclusive, fair and sustainable. I've laid out a number of the challenges ahead and also the opportunities here it's interesting to see 85 million jobs displaced by 2025 and the ability for a creation of 97 million jobs but the transition is a painful one as we're feeling in 2020. The other point I think we should bring up during our discussion here is that global governments have stepped up particularly in the developed world to pump in about 12 trillion dollars to the global economy which has certainly helped to lift us from the lows that we saw in March, April and May but it raises the question how long can countries continue to pump that much money into their systems particularly those in the developed world which are under strain. I'd like to start with Guy Ryder who's one of our co-chairs after his jobs reset summit and give us a sense Guy how deep the wounds are because a lot of this has to do with the rollout of vaccines. We saw at the IMF World Bank meeting there was a push and money set aside to assist in the developing world to get the vaccines out there. How deep is the dislocation from where we see it today vis-a-vis where we were four or five months ago? The dislocation John it's massive we've estimated a loss of 495 million full-time job equivalents by the middle of this year a massive hit to income from labor down by over 10 percent and that's why I think it's absolutely vital that we have this discussion about jobs not after we've sold that we've solved the health emergency but right now because we're going to have to build forward from a very very dark place and here's the worry and you've put it there yes some 11 trillion US dollars have been thrown at the economic and social consequences of this health emergency but frankly it's been country by country there has been an absence I think of international common purpose in this effort and that has I think to be put right and the fact of the matter is you know COVID-19 comes on the top of a lot of transformational change that was already taking place in the world of work technology being the most obvious but there are others as well and here's the problem I think COVID-19 has exposed extraordinarily brutally the inequalities the precarities of people's situations in the world of work and as we move forward towards this more digitalised future of work I fear that those could be even more accentuated unless we build in and this is mentioned in your introduction issues of equity issues of social protection issues of a social contract being renewed and that hasn't been done up to now so when I hear the word reset I like it because I think it means that we're going to have to approach many of the pre-existing challenges in quite a new way. Yeah a guy let me follow up with you quickly here then it's been disappointing that the International Monetary Fund, the World Bank, the World Trade Organization, United Nations have all suggested we need to move into this multilateral sense to make sure that the developing world doesn't live through this pain much longer than it needs to but I don't see that collective effort it's almost a struggle to set aside funds for the developing world where it's been a protection at home mentality you'd agree with that? I would agree entirely with that John that common purpose is not there and you see it in the funding of economic and social responses to the crisis you know we estimate that to bring up the low income and developing country effort to proportionately the same level as that of the higher income countries would require $982 billion to be mobilized now that can be done it can be done but there seems to be little political intent to do it and I think unfortunately when one tries to look after oneself in these circumstances one's missing the point that we're not going to get out of this unless we get out of it together. Thanks for that Sadiq I'd like to talk to you about the double destruction as Guy suggested here we've gone through a period of automation already right that was a trend that was well underway and then you layered on COVID-19 as a pandemic over the next five years 85 million jobs it seems very difficult to make a shift and create nearly a hundred million jobs at the same time. So I think these are actually somewhat conservative estimates in the sense that they're looking specifically at medium and large-sized companies across some of the largest advanced and emerging markets. I think the numbers could be much greater still in terms of both the disruption and the new opportunities. The critical factor here will be the decisions we make today for the next five years as Guy just said this is not something that we can afford to wait another year or two wait for this health crisis to be over this is the moment to make those investments and there's two different types of investments that I think in particular come out there's one which Guy has already called out which is the coordination that is missing in action as was said yesterday at the summit that is required at an international level but then when it comes to the instruments that are currently being applied within countries that are dispersing funds towards workers there needs to be more precision there needs to be focused on the people that are hurting the most there needs to be more conditionality built in so that it's not simply support for wages but there is a game plan in place to reskill and upskill workers and then third this is the moment for investing in the markets and jobs of tomorrow this is the moment to start building out the investments that we need for those 97 million new jobs to come through now that's just the the views of the heads of HR and heads of strategy that are responding to us but there's much more to be done that can be part of government incentives for creating that better future I think it's important for us to cover the gender inequality and why this burden is landing so hard on women particularly in the developing world Sadia so in most societies I think similar to the trend that you talked about in terms of automation in most societies it's been decades that even though women are in the workforce in much larger numbers than ever before in both advanced and emerging markets they happen to be the ones that take on most of the burden of care responsibilities and now they have a double double shift and that is essentially that they are not only having to take on much more pressures in the workplace especially the women that are amongst the frontline and essential workers in many societies but in addition to that they have a double shift in the home which comes in the form of caregiving for elder care child care especially with school closures and so that is what's causing additional stress for women in particular and potentially starting to create a disincentive to return to the workforce and that frankly would end up reversing all of the gains that have happened in recent decades and as one as the UN women has pointed out could create a situation where the office becomes a place for men to return to and not for women thanks very much Sadia for the follow-up on that I'd like to bring in minister Walid joining us from Algeria as the minister of startups and you're part of this younger generation at 26 it seems like a heck of a task to try to develop startups in a period of time where there is so much strain you can look at it turning it upside down and say well this is phenomenal we can support the entrepreneurs of the Middle East and North Africa at the same time what are you finding in the first 10 months of the pandemic minister it is a fact that the world economy is experiencing a time of uncertainty luckily in Algeria the situation seems to be under control now with less than 200 new cases daily and things are getting back to normal slowly but still the coronavirus pandemic has ravaged most of the world economy and Algeria much as the last of the world have been reducing startups creation we also noticed that it have the COVID-19 have been challenging their survival and limiting their growth of course this is not exclusive to startups only we have also noticed that business application have been dropping significantly in recent moments and there have been a wake but during the this crisis the startups have have continued to play a critical role for our economy and some innovative new startups have reacted fast and inflicted it to the pandemic and have been very helpful in shifting towards a fully digital education health services some of them also provided the innovation in in medical goods or on services so they have shown how the way they are particularly good at adapting and they have demonstrated how how effective they can turn COVID-19 solution into viable businesses for example e-commerce here experienced a positive rebound in most sectors due to the fact that the people who don't go to physical stores doing the the the lockdown and so here as well as I think all the North Africa region startups have emerged as a key drivers for for economic growth and job creation maybe in the post COVID-19 scenario great thank you very much minister we had you your line waffle a little bit there but we could get all your thoughts and I appreciate it I didn't realize also your portfolio is is wider than I even expected with micro enterprises of course covering startups but also the knowledge economy which we'll circle back with on on the youth discussion as well. Ebru Ozemir of Lima coldings this is interesting to have you on the panel because it's tourism construction energy cement you have a mixture of many things under the conglomerate can you give us the sense and you raise a very interesting point about construction the knowledge economy hasn't reached into that sector fast enough what do you think can be done specifically in construction here to adapt workers to the the next generation of technology AI 3d printing in that space. Hello thank you very much and hello and all the best from Turkey yes as you have suggested and said Turkey the construction industry I think it's the less digitalized and the less automotive and we have seen the effects during the pandemic and we realized that we were expecting the digitalization robotics automation however just in the beginning of the pandemics we realized that we have to do much faster because they're active in 15 different countries and we have like more than 50 000 workers blue colors white colors and service people and we realized that we can't even reach the countries so you have to really be digital to be able to reach second is problems regarding the supply chain you know we had to send equipment and people to the countries we had issues say site safety I mean suddenly you were very much afraid of our workers health status in different countries with different health systems and workforce safety issues and challenges due to law or poor digitalizations we have to really focus on that side and we realize that we have to re-skill and upgrade the skills of the people that we are working with and we really started the trainings that you have already mentioned in the video and the other idea is you know what especially which was just published the IMF report it says that the countries if they invest one percent of their GDP in construction or in the ppp's and all kinds of infrastructure investments they will grow by 2.7 percent of their GDP and the workforce they would create directly seven million and indirectly it can go up to 20 to 30 million including the micro effects so realizing this if we said that if we are in the least developed or least digitalized or least automotive sector like construction then we can if it's re-skill the workers we had the blue work blue colors or the white colors we can help the job market in that way so we are now putting a lot of effort in the digitalization and re-skilling of our workers right now. Good just very quickly on a follow-up if I may Ebru in that video was saying that of the company surveyed by the world economic forum that 70 percent of their workforce will need to be upskilled is that about right for your group of Lima? We have to I mean this is the aim that we have to do exactly I mean right now we are working with more robots so we need people to do the robot to work on the robots or the 3d printing that we can really print like you know low-income houses and for example our target right now is the Africa where the population is growing enormously I mean you know which means more airports more hotels more schools more housing so 3d printing in the cheapest course will help us to do that but to do this we need more mechanical engineers more technical people who would be able to use these equipment so this is the reason I mean 70 percent I think is a very good good number to reflect that. Okay thank you very much for that guy writer let's get to the informal sector we often think of the kind of formal job destruction where you can measure it but this is something that's much more difficult to measure and that's the informal sector particularly in the global south if you will Africa Latin America Southeast Asia what's your early indications on this? Yeah I think the first thing to remember is that six out of 10 workers in the world work in the informal economy with everything that implies in terms of lack of protections and in the early months of the pandemic already we estimate that 1.6 billion workers took a 60 percent hit on their income which was already pretty near the edge of poverty so this is where an economic and social crisis tips over into a humanitarian crisis and the message is well we've got to help these people through so they're not faced with the impossible choice of going out to work in dangerous conditions or not being able to feed their family and this is one of the ways that this pandemic has brought to the surface now these gaping inequalities and precarriages in the world of work the majority of workers in the world simply have no social protection whatsoever we've known this we've lived with this we've tolerated it we simply haven't put this right and now is the moment to do that as part of the reset and you know we're going to have to invest in a lot of things I've already heard you know excellent cases being made for investing in infrastructure in health and education in care in the green economy we've got to invest in social protection as well and I say all of this knowing as the IMF tell us that the world is you know heading towards higher levels of the public debt up 20 percentage points compared to GDP for the rich countries you know we have to ask ourselves you know are governments going to step up are we going to be able to mobilize the funding to make these necessary transitions in the reset actually happen good I'd like to get your thoughts guy on this and in Saudi as well you know if we pumped 11 to 12 trillion dollars into the global economy to kind of re-inflate growth during this crisis can you redirect the next wave of stimulus to do exactly what you're suggesting to make it more targeted to the informal sector to the youth to women have been locked out of the workforce guy and then Saudi I'd like to get your comments as well please yeah and I take on board what Sadia already said about how to apply stimulus I'm worried that this debate is now becoming a sort of a binary debate you know those who are saying look we can't keep these furloughs we can't keep these systems going much longer it's time to put the zombies out of their misery and move on to the future but you know the point I'd make John is you know put it in cinematographical terms there's a big big distance between the land of the living dead and the brave new digital world that we want to get to and here we really have to work together intelligently with these issues of equity and inclusion very much in our minds to get where we need to be where we need to be I don't see that happening yet I don't see the political focus on these issues but it is perfectly possible and it needs to be done Sadia I was asked you to follow up and we have a question from our audience as well that's combined the two is there a need for a more social push to make companies invest more that sounds impossible but drastic times require drastic measures so we can funnel this in the right direction and the pickup of the conversation with Guy go ahead Sadia yeah first let me pick up on that earlier point it has to be both we do have to provide support social protection safety nets to workers in today's jobs even if there is a very clear sense that these are industries that are on the decline even if these are roles that will be redundant later there has to be that support there is no other way otherwise we're looking at a social crisis that we will not be able to come out of and at the same time there does have to be that investment in the reskilling in the upskilling in the training that's required in the investments into the jobs and markets of tomorrow so it will have to be both and I think that's where this is the moment of reckoning for a global leadership now to your question on can companies do more so one element that I think was very interesting coming out of the report two out of three companies find that there is a dollar return on investment from reskilling and upskilling within one year right so this is not about a hypothetical case this is about an actual return on investment that they can tangibly see on their balance sheets so there is a business case to be made for most firms to do much more in terms of free skilling and upskilling the problem right now is that they're taking generally very short-term decisions because of the economic downturn they're doing this in very in most cases is based on you know quarterly results and not because they will get that return on investment so that's one element that has to change a reminder of stakeholder capitalism why it matters the second element is governments here can provide better incentives so it doesn't have to be support schemes that don't take into account what happens next to the worker there can be incentives and conditionalities built in that require companies to provide more support and third now this will not be the solution for the broad blue collar workforce this will not be the solution for informal workers but where the solution exists we do have to provide it and that is online learning and retraining what we found is that already workers themselves have noticed what this current moment requires there's been a four-fold increase in workers taking their own initiative for online learning and retraining we saw a nine-fold increase from governments wanting to offer those programs and a five-fold increase on the part of employers to use online learning and retraining so let's use the solutions that we do have great let's bring in minister Walid again from algeras minister do you find it as a trend within algeria where companies are saying i need the government to do more and your budgets are under strain you're a major oil and gas producer particularly the latter and prices have been low so is it realistic to think that countries like algeria the governments can't step up any more than they're doing right now to address the jobs crisis that we're in um maybe i'm gonna i'm gonna talk about my my sector in algeria startups are quickly becoming a top priority we have introduced recently a new public fund for startups tax exemptions and more more flexible regulatory framework and we strongly believe that the startups innovative model is the key to content with employment in the post 90 in the post-covid-19 scenario we are also gradually shifting into an entirely online company registration process i think covid-19 have changed forever our conception of entrepreneurship and and work and uh uh the the this is very important for us because uh in algeria as you know the the the economy as you said is mostly based on oil and gas but um at paradoxually we have also um very innovative uh youth and uh startups are as i said becoming um very important uh priority for for for um the the the government um and speaking about the um the employment uh the employment rates for uh 2019 were 11 uh percent uh with a um a general declining trend uh since uh many uh many years and so they have been some maybe alarming projection that the the severest uh social distressing measures have been uh uh were made in in july and the is is i think no behind us so we hope that the by the end of the year the the employment rate wants to decline too much and the as i said that the very big things are are are are are uh slowly uh moving back to to normal with uh with covid-19 cases new cases uh less than than 200 uh i think we we have we have been doing a pretty good job at at social distancing and at controlling the the the covid-19 spread uh so the the actual government program is is going uh at a very normal speed uh since uh is july okay very good minister i just need you to shorten your answers a little bit because the line is not that great so it's kind of straining your system so i'll come back to you in just a little bit abru i wanted to get another question from the uh the audience uh watching today and that is how open is the construction industry and your own tourism properties as well how open is the workforce that you're dealing with to reskilling uh do they have the the education skills to leap in and be reskilled in the time frame that the world economic forum suggested in the report um currently we have our our work staff is like 90 turkish and also they're young because in the construction and the tourism industry we have very young population of men and women and they're really open to reskilling because they read and they're like always on the social media so they see why just the market is going so the actually the demand is coming from the workers as well to be reskilled or we get a lot of information from them to to show us how they do it better because when we locked up we had to work in isolated construction areas during the lockdown so we but we basically did this we closed down and isolated the whole construction sites wherever we are in Kuwait in Saudi in Turkey and we didn't leave them out for two four months so this is the reason it was not an easy way to work but this was the only way to really protect them and they understood it very well and a lot of way of new ways of doing business or new techniques because always we're mostly in the engineering they come to us the hotels were closed at that time we reopened it and after the reopening we were still received a lot of option or a lot of suggestions from them as well you know for example to give you an idea to give you an idea we have built like 500 megawatts hydro power plant normally we are supposed to do the commissioning by bringing like 10 engineers who are super talented or super experienced in that field however because of the lockdown we couldn't we only found one however the whole commissioning of these crazy big you know generators feed it is online I mean normally at normal conditions nobody in the company would take that risk but we were very successful and we even completed the whole commissioning process earlier that we envisaged so you know and I'm thankful to everyone who worked out there so I think that we will be more effective and the thing is the pressure is going to come from the workforce okay thanks very much for the answer there Ebru I think we need to hone in here if we can on the youth I've seen surveys that are suggesting you know college graduates or those coming out of technical college will see their wages offered 10 to 20 percent lower and it's you lose a decade of earnings if you will Saadia what are you finding in the the feedback from your surveys here how much of a setback is it for the youth as a result of the pandemic does it last a decade or longer yeah I think there's a there's a mixed picture I can certainly share what we have in the report but I think we also have to take into account that the report is offering the view of medium and large-sized companies in large advanced and emerging markets and that gives you a very specific picture and those companies are to some extent creating a disadvantage for youth because they're going for keeping more of their experienced workers now that's not necessarily to say that there aren't older workers who are at the same time across other sectors of the economy and other types of firms losing their roles and actually finding it very hard to to find the necessary reskilling and upskilling to be able to jump back into the job market so I think there's a nuanced picture we certainly find from the companies that we were able to get data from that it's the youth that are at a disadvantage and it's slightly more experienced and older workers that are actually able to retain more of their roles that's interesting is that surprise you in fact that the older members with experience can retain the roles so it plays to my point that the youth is going to pay a disproportionate price for this Saadia yeah I mean again I think this is because companies are in general under the economic stresses that they're under having to take very short-term decisions when they are laying off workers or downsizing certain parts of their businesses they're keeping specific workers who do have a little bit more of that experience and not necessarily some of their broader workforce and again that is a pattern from specific sectors now it depends that's the average when you look at the healthcare sector actually there's almost none of the healthcare firms that are responding to us that they're saying they're planning to do any layoffs very different when you look at agriculture very different when you look at financial services etc so we were able to build a sectoral outlook but on average yes this is slightly more disadvantageous for youth it is surprising to some extent because youth are at the same time one would think ready to upskill reskill and move into new roles but again I think it's because not enough companies are making that kind of investment that said when you look at the broader outlook when you look at the broader numbers it depends very much on the type of industry and type of country okay another question that we've had come in from our platform here a guy writer we're starting to see governments trim back wage supports and it's been a huge debate on Capitol Hill as we know with a $2.2 trillion package the US Senate wanted something lower but the difference for the average American for example just using that as the largest economy in the world is $300 a week versus $600 or even more is there is there a risk here you pull back and you really cause a shock when those subsidies are pulled out for the average American or anywhere else in the world yes I think we've got sort of two reactions from governments we've seen the US one which contrasts with the European one so Europe has tried to retain people in their employment keep them connected to their companies and the US position has been well just put money into social security but either way and there's merits to both of the the past followed we're at a situation now that if governments do pull back either because resources are becoming limited or because they think it's time to move people along I think we can expect a quite a violent spike in open unemployment in the weeks and months ahead and that is a really very dangerous situation it's what I was saying earlier on you know getting from where we are now to where we want to be it's a long and difficult transition and I would be aware of just letting people go now having no hitting the cliff as it were and would you allow me John just to say a word about young people as well you know there are four hits to young people one they never recovered from the 2008 crisis secondly education and training has been massively disrupted thirdly young people have been ejected from their existing jobs when they had them on a more than proportionate level to other workers one in six young people and fourthly there's just no way into labor markets right now and all of the survey work we've done has shown not only that this is affecting their mental well-being their views of the future these people are becoming disaffected with public institutions and policymakers as well yeah it raises another question that came in from our audience today how do you redefine the social contract between government industry and the population Mr. Walid you want to pick up here in a developing market how do you define the social contract post COVID-19 I don't know if you hear me because I think I have some technical issues the things are a little bit complicated here in Algeria because due to the political situation last year we we have very many expectations from the society and many people here in Algeria are waiting for the government to have a more sustainable economy because as you know oil and gas have been dominating the national economy for four years so things are pretty complicated here but the most important thing is that there have been some positive impacts from the COVID-19 because we we have really been amazed by what young people have been doing to help the the government to find innovative ways ways to maybe control the spread of the coronavirus Algeria is the country that did maybe the best job in the region when it comes to controlling coronavirus spread and we are rebuilding our economy and things I think have been pretty exceptional here but as you as you mentioned earlier it is not easy to maybe face the social pressure when you are in a situation where you have to rebuild an economy and to fight a pandemic that is this this hardened and this unique in our era Okay thank you very much for that a question Saadia for you do you think this idea of offshoring because of the pandemic is just gone it's a question that came in do you see the shift from the developed to the developing in an effort to try to save money help the developing world but I think that would be kind of a political suicide for any company that embarks on that at this stage what do you think? I sort of take the flip side of that question I think for most economies they have to rethink their development model they no longer can be competing on the basis of cheap unskilled labor they need to think very differently and very seriously about the kinds of human capital investments they make because in the future economy whether it arrives in two years or whether it arrives in five years it will be critical that people have the skills that they need to be able to contribute to their economy's growth to be able to make a more sustainable planet to be able to have more inclusive societies there is no other way out so I take the sort of the flip side of that question I think that's how governments will have to think about their future growth. Good and Ebru how do you build a more resilient labor force in your company but in the context of Turkey which has been a fast-growing market nearly 80 million consumers what's the next steps to make it a more resilient labor market so you don't go through these crazy ups and downs because of the pandemic? You know in Turkey in the works that we do and we're active in 14 different countries we do export also a lot of people or staff to the countries that we work so basically the way that we work has been changing especially in the construction sector where we are becoming more as you suggested more I would say automatic more we use more robots we are more digitalized so we need people who are more skillful in these aspects so I cannot be able to send just like a blue-collar person who can just do a regular work this is the reason we started to equip our personnel here in Turkey which will be more resilient more skillful to do the jobs in a more higher I would say quality so this is very important because Turkish construction sector is actually now a world brand and the Turkish construction sector is resilient because we have people staff at every level at engineer level technical level blue color level for this reason now we see we are more digitalized although we are the least digitalized before we need more people who are more skillful so this is the reason we are really putting a lot of trainings right now to make them skillful before we send and currently the lockdowns are still in power so to most of these countries they don't accept our workers yet so this causes some you know workforce levels decrease but this is the aim right now we are using this time to be more to create more skillful workers or engineers Saudi we went from kind of zero to 100 kilometers an hour but it comes to e-learning we've been talking about it for the last two decades I think in retrospect people would say we were slow off the mark because it was a shock to the education systems east west north and south what do we need to do now to advance e-learning to reskill our workforces does the priorities need to change with that investment as well so one element that has become very clear is a what we need is a sort of universal adapter we need a common skills taxonomy that is recognized by the learning platforms by employers by governments and that allows for much more rapid training and reskilling and we move away from a system that relies only on degrees and diplomas but actually starts recognizing some of this learning as learning that should be valued in the labor market that's actually an element we're going to try to start building a coalition around and launch tomorrow so that's one critical point and and John while I can maybe let me just add one other element because the social contract question came up and I think you've heard this from Guy as well but one critical element of that will have to be a social protection floor establishing that establishing funds around that and ensuring that that becomes not a hypothetical not something that we've been talking about for decades but really something that is now taken seriously because that is a fracture that has been exposed across all societies due to the pandemic and what's happened today. Okay I'll ask our co-chair then I got a writer to give us the final thoughts in a minute I talked about the social contract how about the safety net then Guy because is it get worse before it gets better because of the lack of stimulus probably in 2021 what's your final thought? Yeah I tend not to talk about a social safety net it is not the phraseology which I think captures the need very well social protection should be a right but it is certainly the most effective lubricant of transition and change that we can bring about if you're asking people to retrain an upskill to move from where they are to where they need to be in the future you do need to assist with this social protection process. Can I also say on education and training whilst subscribing to what's just been said I think also we need to understand that connectivity around the world is very different if we're going to rely heavily on technological mediation of education we have to worry about the digital divide and we should also recognize I think and the experience of COVID-19 has highlighted it very very clearly that by and large education cannot be a do-it-yourself activity you know the teaching profession the helping people along and orient them it's really important if we're going to make this work. Okay thank you very much what an excellent panel I appreciate our audience sending so many questions we tried to address as many as we could in our 45 minutes but I think we did so effectively. Minister Yasin Walid from Algeria it's a pleasure to meet you I wish you the best of luck in the portfolio. Bruno Osmanmeir the chairperson of the board for the EMAC holding thanks for the comprehensive look at the construction sector and tourism and the work you're doing our co-chair Guy Ryder from the ILO and Sadia Sahidi who's the co-author of the report and a managing director from the World Economic Forum really superb interventions today and also for the questions from the field my thanks.