Azerbaijan National Academy of Sciences

Bank tellers are out and robotics engineers are in, according to a new report that says the coronavirus recession is accelerating technological changes that could displace 85 million jobs within the next five years.

“Automation, in tandem with the COVID-19 recession, is creating a ‘double disruption’ scenario for workers,” said the report published Wednesday by the World Economic Forum, which warns that inequality is likely to increase unless displaced workers can be retrained to enter new professions.

More than two-fifths of large companies surveyed by the WEF plan to reduce their workforces due to the integration of technology.

“For the first time in recent years, job creation is starting to lag behind job destruction — and this factor is poised to affect disadvantaged workers with particular ferocity,” the WEF said in its report.

The coronavirus pandemic has caused a sharp spike in unemployment around the world. Several major economies in Europe and elsewhere have extended support for wages in order to offset the alarming rise in joblessness. Unemployment in the United States, meanwhile, continues to march higher while lawmakers quarrel over new stimulus measures.

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