In the wake of COVID-19, economies across the world have been hit hard. Countries alike have seen decreases across all economic sectors as quarantine and stay-at-home orders were mandated in an effort to slow the spread of the virus. People transitioned to working remotely, while millions of others lost their jobs entirely due to market crashes. In an effort to cushion the economic travesty that the pandemic has bought, Microsoft is launching a global initiative, partnering with LinkedIn and Github, to teach 25 million people across the world new digital skills. Microsoft’s global skills initiative aims to remedy the global economic impact that has come with COVID-19.
Microsoft believes these newfound digital skills will give people the ability to take on jobs where digital skills are necessary in order to be successful. The initiative targets those who have lost jobs due to the pandemic, as well as minorities, women and others affected by poverty.
Recent statistics predict that over 250 million people globally may be unemployed by the end of 2020 due to COVID-19. Microsoft found that in the U.S. alone, in May 2020, women had an unemployment rate of 14.4% compared to men who were at 12%. Additionally, Latinx populations had unemployment rates of 16.7%, which is much higher than other groups. These statistics indicate why the initiative particularly targets populations such as women and minorities.
By learning digital skills, those who are at an economic disadvantage will be able to take on jobs in the digital age and improve their economic status. Those who attain these newfound skills might even be able to teach others and distribute their knowledge to uplift an entire community.
The three partnered companies have come up with a three-step process that they hope will encourage economic growth in communities across the globe. The first part relates to the Linkedin Economic Graph. The Economic Graph is a digital representation of the global economy based on more than 690 million professionals, 50 million companies, 11 million job listings, 36,000 defined skills and 90,000 schools. In short, it is data that shows available jobs and their required skills as well as global hiring rates. These insights will help create economic opportunities for the global workforce.
The second part consists of free tools, programs and content that people will be provided with, in order to learn the skills necessary for job applications. This initiative will give people free access to content from LinkedIn Learning, Microsoft Learn and the GitHub Learning Lab.
Thirdly, low-cost certifications and other cost-free job-seeking tools will be available to help people pursue new jobs with their newly developed skills.
Along with this digital skills initiative, Microsoft will be backing $20 million worth of cash grants that will be distributed across the globe to different nonprofit organizations. These grants will help nonprofits to combat the effects of the pandemic and allow the nonprofits to further extend reach in order to help more people.
Microsoft believes that global shutdowns and social distancing have accelerated the path to digitalization in all fields and economies. The company knows that digital tools are now necessary regardless of the field of work and will continue to be relevant far after the pandemic has passed. Microsoft’s global skills initiative may help the world’s economic recovery and may possibly uplift the entire globe during the COVID-19 pandemic.
– George Hashemi