 So next we'll be hearing from Dr. Denev who will be talking about details from Chapter 7 on work and well-being during COVID-19, impact, inequalities, resilience and the future of work. I'm wonderful listening to Richard just now on the important work on well-being policy. As you might remember from the highlights just now about an hour ago, I've had the privilege and pleasure to work with a stellar young team and this time around we have the time to actually name them. So these are Maria Kotovan at LSE, Marta Gohl and Mika Katz at Oxford and George Ward at MIT Sloan. And it's a superb team of young scholars that really represent the future of empirical science and well-being if you ask me. We left no stone unturned in looking at the impact of work and well-being because of COVID-19. And as Lara noted, we've kind of structured it between the raw impacts in unequal aspects of the impact, resiliency and what drove resiliency, and then try to come up with lessons for the future of work and how to build back happier. And so I'll start again with impacts and I'll reiterate some of the insights I've come out and discussed an hour ago, but I will develop on those a bit and add quite a bit actually. The first thing to note is the impact on rising levels of unemployment. I've mentioned this before, but here there's already quite a bit of impact that we've noted as a columnist around the world. So for example, in the United States there was five, six, seven percent drops in employment rates. That was last for the United Kingdom, one or two percent. A lot here is to be explained by the policies that were put into play. In the United Kingdom there was a furlough scheme, which is a job retention package, and that maintained people at work. In the United States the choice was made for an income replacement scheme in case people lost their jobs. So that could help explain differences in employment figures dropping around the world. Now what we're interested in, in the World Happiness Report of course, is the impact on well-being. And we all know from the literature just how important work is for well-being as we run the regressions on the 2020 data that we could get our hands on. And as I've noted before, it is really striking just how important work is or rather what a negative impact it has if you're not having a job or being employed at the time of answering questions about how you feel about the quality of your life. And so the impact ranges between sort of 10 to 30 percent in the United Kingdom. The impact was very big over the past year. It's a bit less, for example, in South Korea. We do know from really good work by Andrew, Clark, and others on a social stigma effect, which is that if a lot of people fall unemployed at the same time, that could reduce somewhat or buffer a little bit against the impact of this. It's either something to be said for this in the context of some countries where if you fell unemployed or made redundant while furlough scheme was in place, as is the case for the UK, that percent or two people that did not benefit from the furlough scheme were left with that work may have felt it even more strongly. Now, I've noted something else about an hour ago, which is something that I personally find really rather striking and an avenue for future research. If you have no job at a time of a flourishing economy versus not having a job or being made redundant at a time of a pandemic or another major crisis like the financial crisis 12 years ago. What does that mean? How do these two interact? That is a really interesting question I find as something that I do not think we necessarily have answers to. But what you're seeing in front of you now to really should drive a research agenda in that direction. There was a 50% drop in the supply of jobs March, April, May. And this was across the board. What does it mean to people's well being if you do not have a job and find yourself in a situation where it's much harder to find a job and regain employment. Is that a cause of less stigma surrounding being unemployed because it's more difficult to find a job, or does it even increase anxiety, because it is more difficult to find a job. Those are critical questions, I think, but ones that are really, really important and that we should try and figure out so that does it exacerbate the impact of being made redundant to do to be made redundant in a pandemic or major crisis. Or does it to some extent buffer because everybody else is in the same boat. An important thing here of course to notice that jobs have come back, but are still way below where we were the same time last year at the exception, you'll see of Australia amongst the countries being studied here. And so some of the countries have seen pretty much a full return, if not even above where they were before. There's been a lot of inequalities. It's been mentioned a few times the impact of covert has it has put a spotlight on different heterogeneous impacts and exacerbation also of previous and prior inequalities. I think I know this is a busy slide but I'll, there's three systematic ways in which we've picked up a large inequalities essentially being exacerbated. There was a huge and greater risk of reduced working hours, but for people with low income. So people who are have an equal inequality and income to begin with, also saw a greater risk of reduced working hours. So this is what I call an exacerbation of the of existing inequalities. If you look at figure 3b, you also find related and linked to what we just said, a decline in working hours by skill level. I know there's no sure thing is low skill and high skill, but they call him a sadly still call it that way. And so we have to follow suit. And so what you see here is that the decline in working hours was almost double for for people that are considered low skill in traditional economic setting. One country here was the exception that was Norway, where supposedly low skill workers actually saw did not see a reduction in working hours, but they really the exception, rather the rule rather than the rule. If you move to figure 3c, then you find what I think is perhaps the most disturbing of all, which is the difference and the between age groups. So what you see here is the change in employment rate by age, the green dots represent the averages and you'll see countries sort of averaging minus two minus three to minus one to minus a half percent drop in the unemployment, sorry in the employment rate so increase in unemployment. But if you look and zoom in on the youngest workers from 15 to 24, although I do hope they're still in school at the age of 15. What you know is is much, much higher for that for that group and anecdotal evidence from speaking to youngsters really backs this up in my in my own modest opinion. But where it's a mixed bag is the impact on gender from the COVID impact on employment. If you look at it by gender, it's a much, it's a much more mixed bag of results. So there's no systematic bias, one way or the other, but you'll see some countries like Portugal, where men are impacted much more in terms of losing their jobs, and then you have other countries where it is women like in Slovenia, where they are much more impacted in terms. So there's no general insight to be said about an equal impacts on employment status by gender, it really is a mixed bag and dependent on context. However, where there is no question where there was been it has been an impact on the job status and in turn the well being is by working mothers. So great work by Martha Golan and the team here at Oxford have really shown the following and very specific surveys is that across in the service they run in Germany the UK and the United States. What they find is that for working mothers are working fathers, the time they have to spend on childcare and homeschooling really took up a large chunk of the day. But while men helped out or fathers helped out in homeschooling to more or less the same extent as women did, that was the same cannot be said of childcare where women really took up about 15, 20, 30% more of the childcare duties, even though they too were professionals meant to be working from home. So this may then translate into differential well being impacts as well. Now there's one graph. Sorry, before I get into a graph on loneliness. I want to show you the following, which is the unequal impact, which will have been felt in terms of well being to buy industry really rather remarkable how the covert crisis helped some industries, but mostly did not help others. So for example, the accommodation food service activities think hotels restaurants and cafes were saw the biggest drops in employment. Partially this will link back to younger individuals that we saw earlier because those are mostly younger people serving in those industries. So there's some correlations between these inequalities or links that I've just been describing. And then other industries including information communication, perhaps not surprising, a public administration people did not lose their jobs. In fact, there was a slight uptake in employment. So, again, some people, I mean the covert disease hits everybody, but the impact on the job market was very much heterogeneous and hugely unequal. And this I personally found a highlight in terms of insights. And we've raised it earlier on in the highlight session. I'll just briefly mention it here again. This is thanks to Daisy fan court and the UCL team and the UCL Kobe 19 social study, where they've tracked people over time on a week to week basis. And here what you see is essentially the weeks before and after having to stop work. This is either being made redundant or being put on a furlough scheme. A number of combinations are possible. But what's interesting is, is that here we look and split it between people that are self reported to be lonely, according to the UCL. And what you find here is that people that do not have social support to begin with, especially in a time of a pandemic with social distancing rules in place were hit much, much harder than were people who did have social support outside of the workplace. And that is, I think, something very important to note. And loneliness has come up and deserves a lot of attention, especially in this pandemic. Now on to resilience. What I haven't mentioned yet in the highlights section, but I really want to emphasize here is that the first source of resilience was through policy. And I really want you to take a close look at the following. This is again UK data, but I am, I am confident it travels outside of the UK with other places that saw strong job retention schemes in place. And what you're seeing here, again, is week to week sense of life sort of section to changes in life section from week to week, the weeks before having to stop work versus and following as the work stoppage. Now split between people who benefit from a furlough scheme, a job retention scheme without income loss with some income loss, probably 20%, as was the case in the UK. And then the dark blue line is essentially people who do not benefit from a job retention scheme when they're being laid off. So the first source of resilience, really, if I may say so, is due to good policymaking. And in the chapter we delve and dig into this a little bit where we find that we'll make or look into and study those countries with generous job retention schemes like the UK, like the Kurz-Arnbeid scheme in Germany versus those countries whose policy was more focused on simply income replacement, like was the case in the United States, where checks were sent out to try and recover lost income, but no job retention schemes were put in place. And as we know from the well-being literature, jobs are more than income, jobs are both social identity, social status, social network, and a routine throughout your day. And the non-pecuniary aspects of a job are probably as important as the pecuniary aspects. So this is an important lesson to be learned moving forward for policymakers, I would argue. Now, if we look more dynamically over time, thanks in this case to the UK. You got weekly tracker, and we see aspects of this in other trackers as well. And this may be somewhat counterintuitive to some of you, which is that the biggest drop came right before the lockdowns. So late February, March, is when the big drops in this case happiness were felt. It may seem like a long time ago, but those in the UK will remember, this is a time that we all went hoarding toilet paper. Luckily, lockdown came, and this is a time that we all went hoarding toilet paper. Luckily, lockdown came, and brought a new normal and regulations, as well as a new way of working and interacting with one another, so people had a sense of psychological stability. Most importantly, of course, was the furlough scheme was introduced, and you'll see this in the United States as well on the next slide. Just how important these job, I mean, these financial packages were job, whether they were job retention or income replacement. Now, while society, whether you're a blue collar or white collar worker, recovered slightly, and a gradual recovery towards the summer, we never fully recovered. So today, especially, we're still way lower than we normally are in a traditional, more normal non pandemic here. But there was some recovery, and then again a drop as people were worn out by the pandemic. Now, thanks to our fabulous data partner, indeed, we also have even more granular data for the United States. The story is somewhat similar, but slightly different nonetheless, partially because of the nature of the data. What you're seeing here is again, the slight drop in this case, in terms of work happiness. So this is happiness for by workers, self reported in a crowdsourced manner, thanks to indeed, and we're now up to close to 5 million data points on this front. So this is large. This is quickly becoming the largest data set on employee happiness in the world, and it's still growing. So what you're seeing here is a drop in work happiness, as the pandemic starts raising anxieties, an increase, a sense of relief and even an increase in workplace happiness, when all these government measures come into play. Now here, unlike the graph before, the increase may sound or look a bit awkward. In part, this is because we're only measuring those that have remained in work. As you will have remembered, in the United States, a lot of people lost their work, and that was mostly targeting or was mostly the case for people that lower scale lower income type jobs who are less happy to begin with. So there's a mechanical aspect to this bump. But the most important lesson, of course, is following all these measures over the summer and into the fall workplace happiness kept falling and falling and now has reached a level that is well below where it started at the same time last year. And so people are less happy today than they were last year in their workplaces because of the pandemic. One other aspect before I move towards concluding is the insights that from indeed on the workplace drivers. I've mentioned this in the in the general insights session earlier today, but I want to repeat here what we found. Indeed, surveys workplace happiness, but there's more than that. It also surveys a whole series of interesting drivers of what it and it allows us to then reverse engineer to see what is it that's really driving people's workplace well being. And for economists, this may sound surprising, but it isn't pay. So pay only sits in the middle of the pack in terms of explaining job happiness. The drivers that really come out and are revealed to be the most important ones in driving one's workplace happiness really are the social ones, the social capital ones and in particular a sense of belonging in your firm. That means good quality relationships, having friends at work and feeling a sense of belonging more generally. Flexibility was important before and became slightly more important during. Now, one lesson to learn here is the stability of these drivers. So while there's some movements, they're mostly stable. So that means that companies that were doing well in terms of having the right dimensions in place and fostering the social aspects and the flexibility aspects of their jobs that they offer to their workers, but for the pandemic will have continued to do better and will have had their employees cope better during the pandemic. And then finally, if you look carefully, you'll see some movement in the months following the onset of the COVID-19 pandemic and you'll see that belonging became even more important. Flexibility had its moment as well in March and April and that this managerial support became a lot more important than where it usually sits during the pandemic. So these are some basic insights thanks to the very rich data set that indeed is compiling and that we've had the pleasure and benefit of being able to use. And let me conclude on a few lessons on the future of work and how to build back happier. And the first thing to notice just the importance of work and employment generally, and not just for the pecuniary aspects but especially for the non pecuniary aspects. And the reason for the future of work for the future generally, it's for policymakers, can we make these furlough schemes, more stable aspect of the policy menu, moving forward, rather than having to invent something from scratch. It was, it was the case in the UK, can we move towards a more stable policy tool, such as they have such as the one that they have in Germany, and can that perhaps be replicated elsewhere. And even more disturbing question to some extent is, and thanks to the great work of one of one of our co authors is press crises have sometimes shifted the longer term expectations and work values of the younger generation that comes to get moves into the workplace at about this time. So there is a potentiality that the people graduating now into this very difficult work environment with very few jobs available will be looking more for job security and financial security, as compared to more purpose driven jobs. So that is a question mark and something that will need to be studied. Now, perhaps, and finally, the most salient aspect of this entire covert 19 pandemics impact on the world of work is probably the adoption of the technology to be able to work remotely. Now, before the pandemic 5% of people were working from home and using those technologies at the height of the first lockdown 50% of people were working from home, we're now at about 2025% and McKinsey estimates that we can probably stay at about 15 to 20% moving forward. So big question that people in the workplace are now dealing with is, to what extent is a good or a bad idea to work from home versus work from the office. From a well being perspective, I think we've got some lessons to our insights that we can bring to the table, and it can hopefully shape that future work. The first one is that there's there's real benefits to working from home, including greater flexibility and less commuting, and we all know from the old studies in well being, how bad commuting is typically for once well being. I'd like to add also that less commuting raises more purchasing power because commuting tends to be expensive for many people. And so that raises purchasing power and also helps well being a bit in the margins. But I would argue, and we discuss this at length that working from home, especially if we ditch the office altogether, which is which, which is what some companies are suggesting, we risk eroding social and intellectual capital. So we've just seen a sense of belonging and quality social relations are absolutely critical for workplace well being. And so by if we were to move the needle too much towards working from home, we will be eroding that social capital and social and intellectual capital require inflows of people, places and IDs, and that will remain critical moving forward. So a lesson for the future work would be to move towards a system that has the best of both worlds. In other words, a hybrid system that is coordinated between workers. So let me leave it at that. And if Jeanine Tolomeo is available, I would very much appreciate if she can join us for a minute or two to give her impressions of the amazing data set that indeed is compiling. Thanks, Jan. Hi everyone, I'm Jeanine and I'm the work happiness score marketing lead at indeed. I'm just going to take a few minutes to share why indeed is talking about work happiness, what the work happiness score is, and how some of the work well being mentioned that Jan mentioned have really surprised us this past year. So indeed mission is to help people get jobs, and we have so many teams working on solving big issues like black hole and application, reducing biases and hiring, getting people back to work faster, and so much more. I'm really lucky to work on a very small but mighty team that has the opportunity to explore how indeed can actually help people people have greater well being at work. Years ago, my colleagues and I started to ask, what does it mean to really be a great workplace today, and how can we help people get closer to a good life through work. After all we know that a third of our lives are spent at work on average, and that work is critically important to provide for ourselves or families financially as well as that sense of dignity and meeting. We have 250 million job seekers that use indeed each month. So we knew we had a big opportunity to make a difference here. And through our research we learned that things like fair pay and flexibility are absolute requirements table stakes in fact, but people are really looking to their workplaces to offer them more more belonging trust inclusion appreciation, a sense of purpose. These are all things that contribute to our well being at work. So we began to collect and showcase that data from employees all around the world, so that people can understand and compare companies on this important measurement. We're so lucky to have been guided by experts like yawn and Sonya in both our question design and the analysis of some of our data. We collected a little over a year we've collected over 5 million happiness surveys from indeed users, and that data collection is ongoing every single day. So these insights are publicly displayed on indeed company by company for job seekers to use in their decision making process, and for employers to understand how their workforce is actually feeling. One of the biggest learnings that surprised me this year is really how helpful these dimensions have been for both people and companies. They've given us a bit of a vocabulary and an understanding of some of the new levers that we can actually use to understand how we're feeling at work, especially in a year that had so many ups and downs. For most companies across indeed belonging is actually one of the lowest scoring attributes across the board, but like yawn mentioned, that is actually one of the biggest drivers of well being at work. So we're thrilled to be able to provide this level of transparency and really we're just getting started. We know that of all the dimensions we have we can look at that by job title by location by different income groups education, and we really just scrape the surface on what we can do to provide more transparency for both job seekers and employers. Lastly, I wanted to since it is International Day of Happiness, leave everyone with one of my favorite quotes that has been kind of a spirit guide for our team throughout this work. It's from the author Annie Dillard, and she says, how we spend our days is of course how we spend our lives. Thank you. And thanks yawn. Thank you, Janine. We have a couple questions that have come in through the Q&A I don't think we'll be able to get to all of them, but I will try to guide us through one or two before we have to switch. One of the first questions comes from Nancy Hay. The question is, does the social support for unemployed for the unemployed increase the likelihood of reemployment, or just protect from the impact of unemployment. Thank you, Laura, and especially thank you Nancy for such a great question. It would be interesting to see and I'm not familiar with any particular research that studies this, but intuition would say that on the one hand well sorry what we do know obviously it buffers against the impact of falling unemployed. So having a social support structure outside of work how it helps you in case you're being made redundant. But I see Nancy's point which is, if you have that social support never you're also much more likely to perhaps regain a job and I couldn't agree more with that. Because, even though in the era of indeed, and being able to quite easily submit your CVs left and right. It's still social connections that get you that foot in the door, and get the interview in the first place. I would be surprised if not being lowly in other words having a social support structure outside of work will also be critical in regaining employment. Thank you. We have another question from Vanessa King, who asks, how are the self employed are those that those on zero hour contracts reflected in your data, especially in figure three a. Don't talk much about it in the chapter I'm afraid we have one analysis on this front, but more needs to be done. What came out of that is that the self employed have been hit harder than the employed in part because they were less likely to benefit from these job job retention or even income or income replacement schemes they did, but these job retention was much less to them, and governments were much slower to act on aspects of self employed ways of helping and helping them get them support that they need it. So generally speaking we know from the workplace and work and well being literature that the self employed have an interesting relationship with well being on the one hand, they tend to be more satisfied with their lives because probably they have more of a sense of agency what they actually do, even a greater sense of purpose. But on the other hand, we find on the emotional effective measures, we find a self employed to be slightly more anxious and stressed or worried, which comes together of course or goes hand in hand with the fact that self employed individuals have their own or have are more vulnerable to aspects happening. Good. So I'll leave it at that. Thank you, Laura.