No. 140, May

Greater labour productivity, more interesting work, easier interaction with colleagues and line managers, more time pressure: KOF researchers asked graduates of higher technical colleges about the extent to which digitalisation is changing their work. The results show that the impact is significant. However, it differs according to gender and age.

COVID-19 is causing the economy to change much faster than usual. To capture these rapid changes, a team of researchers has developed new economic indicators based on Google search trends. The indicator for the perceived economic situation has fallen more sharply in recent weeks than during the financial crisis. Some indicators of private consumption have already reached pre-crisis levels, while others have not yet recovered.

The fight against the COVID-19 pandemic is causing severe distortions in goods, labour and capital markets. However, it takes several weeks or even months for the reality to reach official statistics and econometric models. In the US, important basic statistics are published earlier and in more detail than in many other countries. The first available indicators for March confirm scenario calculations that predicted a sharp recession.

The measures taken to slow the spread of the COVID-19 pandemic also aim to reduce social interaction. What influence do these measures have on the mobility behaviour of the Swiss? KOF researchers have developed an indicator that constantly shows this. According to the indicator, mobility has continued to increase in recent days, having reached its lowest level at the end of March. However, it is still far from its normal state.

The KOF Business Situation Indicator fell extraordinarily sharply in April. In the face of the COVID-19 pandemic, companies reckon that their business is faring even worse than during the 2009 financial crisis. Specially added questions on the pandemic indicate that the slump in demand is more serious than restrictions on production.