The new technologies hold promises but also significant challenges. Advances in digitalization, artificial intelligence, and automation promise to raise productivity and growth, but they are also bound to reshape the economy and the way we work, with the potential to increase inequality. Given the dimension of the possible changes, it will take a comprehensive and coordinated policy response to secure growth that is widely shared. These policies will also raise challenges for public finances.
A better understanding of the changes afoot is critical. Coverage of the new digital economy in the national accounts and labor statistics is incomplete, introducing some inaccuracy into productivity measures and complicating the monitoring of ongoing structural changes such as the growth of new forms of work organized around digital platforms. Closing these data gaps is essential to better understand, observe, and ultimately meet the challenges ahead.
Policymakers should facilitate technological change, smooth adjustment and ensure that gains are equally shared, while updating policy frameworks where needed.
• Facilitate technological advances. To realize the potential increase in productivity, policies should balance encouraging competition and incentivizing innovation. Labor and product market reforms, digital infrastructure investment, and economic integration can foster technological diffusion and the efficient reallocation of resources.
• Support adjustment while preserving inclusiveness. Active labor market policies and safety nets can protect workers while allowing change; and the tax/benefit system can help ensure that growth is broadly shared. Education is key to meet the demand for more flexible skill sets and lifelong learning, especially for the most negatively affected. Where taxes need to rise to finance higher spending, their impact on growth and income distribution should be assessed.
• Updating policy frameworks is another critical objective. Social safety nets and pension insurance systems will need to adjust to increasing cross-country mobility and more fragmented work careers against the background of pre-existing trends such aging and lengthening working lives. The new technologies also bring challenges for the public finances, as they foster hard-to-tax activities while creating evolving spending needs.
The impact on labor markets is no less uncertain, but is likely to involve major changes to both the types of jobs and the nature of worker-firm relationships. In advanced G-20 countries, regular contracts remain predominant, and in many emerging G-20 countries labor market informality remains pervasive. But work forms are changing, particularly in advanced countries, where an increasing share of the population is employed (either part time or full) in independent work intermediated by digital platforms or in other new occupations that have emerged along with new technologies. At the same time, many jobs—particularly those involving low- and middle-skill routine tasks—are being eliminated through labor-saving automation and artificial intelligence (AI). This comes against a background of existing challenges, which may differ among countries—including the fact that advanced countries must meet the demands of an aging workforce, while several emerging economies require boosting job creation for the youth and addressing the challenge of informality.
Fostering the benefits of new technologies requires good measures of their impact, notably on productivity growth and labor market developments. The depth and speed of future technological advancement and its impact on jobs and production processes are largely unknown. Ensuring accurate measurement is thus critical in reducing this uncertainty. Yet, as discussed in the introduction, technological advances have created measurement challenges and new data needs in many areas of economic statistics, notably on two issues: productivity measures and employment. This section will tackle these in turn.
It has been argued that new technologies will replace a broad range of jobs and create new forms of work, but their potential impact is difficult to predict. Recent analysis by the McKinsey Global Institute suggests that 15 percent of global jobs could be displaced by automation by 2030, with larger potential impacts in advanced
Data on individuals selling products in digital marketplaces and on contingent work in economies. Another analysis by Hawksworth, Berriman and Goel (2018) estimates that automation can potentially replace more than 30 percent of jobs robotization and AI are likely to be smaller than the proportion of jobs that would be technically feasible to replace. Furthermore, the job losses may be offset by new work opportunities created by technology and by output expansions made possible by falling costs and prices. Indeed, an increase in robot density in manufacturing in Japan has been associated with higher productivity and local gains in employment and wages.
Appropriate measures of the potential impact on jobs are hampered by significant gaps in existing statistics on technology and jobs. Mitchell and Brynjolffson (2017) highlight the lack of data on the scope and growth of AI, and on how technology is eliminating and transforming certain types of jobs. Also, occupational classifications may be challenged to keep up with effects of changing technology and lack detailed information on skill requirements.
Managing the potential impact of new technologies in labor markets will require a better understanding of the demand for worker retraining and continuing education, and of the outcomes. The jobs created by automation, and those that survive, will be more demanding in terms of technical skills and cognitive and social abilities than the jobs they replace. Statistics on workforce skills and demands for skills implied by changing occupational employment patterns will be needed to understand the potentially widening gap between workers’ skills and competencies and those that employers demand. Data on the experience of graduates of retraining programs could also aid in understanding demands for skills.
The challenges of automation and artificial intelligence will require better data on both technological advances and information-processing skills of the population:
Technological advances. Indexes of technology and AI need to be developed to measure advances in technical capabilities, the adoption of advanced technology, and the factors impeding it—such as shortages of labor with needed skills.
Information-processing skills. Data collected in the OECD’s Program for the International Assessment of Adult Competencies (PIAAC) can help identify mismatches between worker skills and employer needs, and to monitor general education and training weaknesses. Furthermore, updated classifications of occupations—including descriptions of specialized skills and typical tasks—would help inform educators and students about career options and preparedness. These occupational descriptions can be combined with data from the technology and AI indices to identify emerging occupational opportunities and risks, and provide early warning on threatened jobs.
Information on employers’ demand for skills from non-standard sources shouls be integrated with statistics from household and employer surveys. An example of this is Burning Glass Technologies, a software developer that uses AI techniques to produce real time indicators of labor market skills mismatches and career path prospects by analyzing online job postings and career- transition information. Another example is the Netherlands’ Center for Big Data Statistics, which has used web scraping and text mining techniques to identify and characterize innovative companies.
Data on in-demand skills and retraining outcomes can help to guide education curricula.Surveys of skills utilization by those who have completed the retraining programs could be used to identify skills to prioritize. Data on effectiveness of worker retraining strategies could include job placement outcomes that would be used for real time decision making. Understanding factors affecting success in worker re-deployment may also require data on displaced workers’ broader circumstances, such as barriers to geographic mobility.
Policies should address skill-mismatches through improved education and continuing training. Ensuring universal and high quality basic and secondary education is critical to help individuals adapt to new technologies (Autor, 2013), and expanding tertiary education will open the door to jobs supporting the development of these technologies in the first place. From early learning to secondary education, the right balance has to be found between endowing students with the necessary tools in science, technology, engineering, and mathematics (STEM) on the one hand, and a general curriculum that emphasizes critical thinking, decision-making, problem-solving skills and empathy on the other. At the tertiary level, this may mean expanding liberal arts education. While there is evidence pointing to the importance of building skills early (Heckman and Carneiro, 2003), this should be coupled with enhanced access to continuing (adult) education to ease the tension between longer working lives and the faster depreciation of human capital brought about by the expected acceleration of technological progress.
There are potential efficiency gains in education. While existing educational standards and goals differ across countries, the rather wide dispersion 100 in education costs among and within advanced and 90 emerging economies, especially for tertiary education, 80 points to the need to assess the effectiveness of education spending. Moreover, evidence on net school enrollment and education costs over a large sample of advanced, emerging and low-income countries suggests that some improvement in education outcomes could be achieved even within existing budget envelopes.
Human capital investment is a powerful tool to redistribute gains from technology. To illustrate the direct effect of skill building, two scenarios are simulated. The first scenario assumes a targeted increase in the human capital of low-skill
workers, while the second model assumes an increase for both low- and middle-skill workers. The underlying cost estimates match average education cost conditional on workers’ starting skill level in advanced OECD countries.15 The initial assumption—to be lifted below—is that the government can finance the additional human capital investment without raising taxes by cutting unproductive spending elsewhere.16 Key findings are:
• Educating low-skilled workers reduces inequality but might intensify income polarization. In this illustrative scenario, the government invests about 2 percent of GDP to reduce the share of low- skilled workers in the labor force by 4 percentage points overall, with half of these workers becoming middle-skilled and the other half accumulating enough human capital to become high- skilled. Compared to the no policy scenario, this reduces inequality by increasing income growth of low-skill workers relative to other types (Figure 7 – Low Skill). This is due to the relative scarcity of low-skill workers and the increased demand for services provided by the remaining low-skill workers, which rises as all incomes rise.17 Note, however, that while this policy reduces inequality, it also generates significant income polarization, as the relative supply of medium-skill workers (vis-à-vis low-skilled ones) increases while the relative demand for them declines.
• Educating low- and middle-skill workers reduces polarization, but is costlier. In this other illustrative scenario, the government follows a broader human capital investment strategy such that the shares of low-skill and middle-skill workers drop by 2 percentage points of the labor force each, with all newly educated workers graduating to the highest skill level. The overall fiscal cost is somewhat higher, at about 2.5 percent of GDP (Figure 7 – Low & Middle Skill). This strategy eventually yields income gains for the middle skilled that are broadly similar to those of low-skill workers, and both enjoy larger (percentage) increases than high-skill workers.
There is a significant international dimension to these efforts. Given that many of the expected policy challenges occur simultaneously across countries, there is a strong case for sharing information and best practices. In addition, there are areas where international cooperation is a must—including coordination of competition policy around multinational firms operating in the new economy and taxation.
The best policy approach will vary across countries. Even though all countries have reason to move quickly to close data gaps and implement reforms to facilitate growth, the need to smooth the adjustment depends on the speed at which the new technologies impact the economy. In addition, well-designed structural reforms should consider countries’ economic starting conditions—including their institutional setup, income level, and conjunctural environment.
Chosen excerpts by Job Market Monitor. Read the whole story at Future of work: measurement and policy challenges
The Future of Work – A human-centred agenda needed ILO says
The ILO Global Commission on the Future of Work has called on governments to commit to a set of measures in order to address the challenges caused by unprecedented transformational change in the world of work. Co-chaired by South African President Cyril Ramaphosa and Swedish Prime Minister, Stefan Löfven, the commission outlines a vision for a … Continue reading
The Future of Work – President Obama’s top economic adviser on policies
Jason Furman, president Obama’s top economic adviser explains which policies could help workers succeed in an era of globalization and automation. McKinsey: What can be done to alleviate the downsides of globalization? Jason Furman: The most important thing we can do is to equip people to succeed in a world with globalization, a world with artificial intelligence … Continue reading
The Future of Work – Five policies to help the middle class from displacement
A range of sensible policies at the federal and state levels can help limit worker risks of displacement and support adjustments when such displacements occur. Education for 21st century skills For instance, students at all levels of education will need better preparation in what are often called “21st century skills.” These include communication and a … Continue reading
Germany – How the future of work is tackled
Digital technologies could have a disruptive effect on future jobs, as well as on the tasks performed by workers and the skills required of them. There may be an even stronger demand for highly skilled workers, but the outlook for those in medium-skilled manufacturing who hold vocational training degrees is more unsure. This is seen … Continue reading
The Future of Work – New education models for extending the principle of dual education
How should educational systems and school-to-work transition (SWT) regimes be modeled to better serve the needs of Industry 4.0? Although a high level of general education will be important for its training content to develop adaptability, it is not the only component to develop. What will be increasingly important are the work-related skills. This will … Continue reading
The future of Work and Digital Skills – Learning from Grow with Google
Digitisation is transforming the nature of work, as well as many aspects of social and civic life. Digital skills are vital for individuals and national economies to prosper in a rapidly-changing world, bene ting from the opportunities of digital and remaining resilient to potential risks. More than 90 per cent of jobs in some categories … Continue reading
The future of Work and Digital Skills – Learning from Grow with Google
Digitisation is transforming the nature of work, as well as many aspects of social and civic life. Digital skills are vital for individuals and national economies to prosper in a rapidly-changing world, bene ting from the opportunities of digital and remaining resilient to potential risks. More than 90 per cent of jobs in some categories … Continue reading
The Future of Work – We will need to institute retraining of workers on a scale we have not seen for generations
We find a long historical record of innovation that shows technological change has been overwhelmingly positive for productivity and surprisingly benign when it comes to employment. Job displacement has occurred in waves, first with the structural shift from agriculture to manufacturing, and then with the move from manufacturing to services. Throughout, productivity gains generated by … Continue reading
Future of Work – The impact of the new technologies on labour markets and income distribution is not predetermined UN says
There are many concerns that technological innovation will lead to increased unemployment, suppressed wages and greater inequality. However, the impact of the new technologies on labour markets and income distribution is not predetermined. The right policy mix and institutional arrangements can ensure that the benefits of innovation are shared broadly, an essential step to achieving … Continue reading
Future of Work and the Skills Gap – A net positive outlook for jobs, while no less than 54% of all employees will require significant re- and upskilling by 2022,
As technological breakthroughs rapidly shift the frontier between the work tasks performed by humans and those performed by machines and algorithms, global labour markets are undergoing major transformations. These transformations, if managed wisely, could lead to a new age of good work, good jobs and improved quality of life for all, but if managed poorly, … Continue reading
The Future of Work – Organizations need to develop skills in employees that make them more marketable and employable inside and outside the organization
Structural changes in the labor market, including an aging population and the rise of the gig economy, have created a persistent skills gap for employers. This mismatch in talent has become a top challenge for businesses, educators, and policy makers. Businesses understand that a predictable supply of workers is critical to their growth and viability. … Continue reading
Future of Work and Worker Personality – Jobs that currently require more openness to experience or more emotional stability will be less susceptible to automatization
We present evidence suggesting that the so-called “fourth industrial revolution”, characterized by machine learning, big data, mobile robotics and cloud computing, may be skill-biased not only with respect to skills acquired through education, as available theoretical models and empirical evidence abundantly suggest, but also with respect to facets of noncognitive skills. Measuring the future direction … Continue reading
Future of Work in Europe – Innovation will create jobs in the future, but they will be in occupations other than those destroyed by technology
This STOA study investigates the potential employment effects of new information and communication technologies, by examining the relationship between innovation, new technologies, employment and inequality. It reviews the existing literature and experiences of previous technological revolutions, and argues that the race between job creation through new products, and job destruction from process innovation, has been … Continue reading
The Future of Work – Very challenging potential shifts in occupations
Building on our January 2017 report on automation, McKinsey Global Institute’s latest report, Jobs lost, jobs gained: Workforce transitions in a time of automation (PDF–5MB), assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation. The results … Continue reading
The Future of Work – New technologies are first and foremost tools made by people for people
Professor Klaus Schwab, author of The Fourth Industrial Revolution, calls for leaders and citizens to “together shape a future that works for all by putting people first, empowering them and constantly reminding ourselves that all of these new technologies are first and foremost tools made by people for people.” Humans must be proactive in shaping this technology … Continue reading
The Future of Work in US – Where the robots are
In a new paper out of the Metropolitan policy program, experts John Austin and Richard Kazis discuss rebuilding the rust belt workforce. They point out that many manufacturing hubs across the midwest have not recovered from the disruption of domestic manufacturing jobs. This shift has taken a hit on “employee-based safety net protections,” leaving workers … Continue reading
Future of Work – India at a crossroads
India is at a crossroads. It has the largest young workforce anywhere in the world, and is the fastest growing economy today. At the same time, the economy is not creating enough jobs, and therefore not fully harnessing its “demographic dividend” in preparation for the “Fourth Industrial Revolution”. To create more and better jobs, certain … Continue reading
The Future of Work – HOW PREPARED ARE WE?
The debate on the extent of job destruction due to automation can be imperfect science, involving a high degree of uncertainty and speculation. Most available evidence, however, highlights a need for policies that can shield specific population groups who are most vulnerable to technological unemployment or skills obsolescence. The ESJ survey data identify that lower-educated … Continue reading
The Future of Work, and Wages in Developing Countries – A bloating of service-sector employment and wage stagnation but not to mass unemployment
Automation is likely to affect developing countries in different ways to the way automation affects high-income countries. The poorer a country is, the more jobs it has that are in principle automatable because the kinds of jobs common in developing countries—such as routine agricultural work—are substantially more susceptible to automation than the service jobs—which require … Continue reading
The Future of Work in US – How to fix the broken historical link between labor productivity and wages
In Don’t Fear the Robots: Why Automation Doesn’t Mean the End of Work, Roosevelt Fellow Mark Paul challenges the narrative that large-scale automation will imminently lead to mass unemployment and economic insecurity. He debunks the idea that we are on the cusp of a major technological change that will drastically alter the nature of work, … Continue reading
Skills and the Future of Work in US – Seven initiatives to transform workforce development
A wholesale reexamination of existing strategies and program administration is needed to enable individuals to pursue new opportunities and fuel the country’s economic growth. Federal and state governments are well positioned to serve as a catalyst for this effort by convening the right parties, aligning goals and incentives, and helping to scale promising efforts through … Continue reading
Future of Work – Four cures for automation anxiety
Last year, the Pew Center reported that 72 percent of Americans said they were worried about the impact of automation on jobs – this, despite the unemployment rate at the time being at a twenty-year low (and even lower since). The fears of a jobless dystopia are misplaced. Despite cyclical ups and downs, economies generate … Continue reading
Future of Work in US – 52 percent believe robots will perform most human activities in 30 years
Fifty-two percent of adult internet users believe within 30 years, robots will have advanced to the point where they can perform most of the activities currently done by humans, according to a survey undertaken by researchers at the Brookings Institution. The poll also found people divided 32 to 29 percent regarding whether the U.S. government … Continue reading
Future of Work – Why Countries Need New Job Creation Strategies
China continues to report robust urban job growth that outpaces growth in the country’s labor force—despite a slowdown in economic expansion. By contrast, employment in India grew by only 1.4% per year from 2000 through 2016—despite a compound annual growth rate of 7.2% for the country’s GDP. And in some countries, including Germany and the … Continue reading
The Future of Work – We are moving away from traditional manufacturing, even away from traditional services
An interview with economist Christopher Pissarides What we are seeing now are probably some of the biggest changes in labor markets we have seen for a very long time. Of course, if you put it into historical perspective, they are not quite as big as 200 years ago, when the economy was urbanizing. Those were … Continue reading
The Future of Work, Dystopia or Utopia – Brookings Vice President Darrell West on the issue (video)
Emerging technologies like artificial intelligence and robotics will have a dramatic impact on the future of work. Already, today’s most valuable technology companies employ about one-fifth as many workers as the most valuable companies in the 1960s. Estimates of workforce displacement due to automation range from the OECD’s 14 percent of current jobs to the … Continue reading
The Future of Work – Cognitive as well as non-cognitive skills are strongly rewarded by labour markets OECD says
This study explores how the digital transformation is affecting the demand for skills in 31 countries, by analysing how skills are rewarded in sectors which are more or less digitally intensive. In so far as higher salaries reflect relative skills shortage, returns to skills contribute to inform on how the demand of different skills is … Continue reading
The Future of Work – Job Transition Pathway Optimization Model for reskilling and upskilling
As the types of skills needed in the labour market change rapidly, individual workers will have to engage in life-long learning if they are to achieve fulfilling and rewarding careers. For companies, reskilling and upskilling strategies will be critical if they are to find the talent they need and to contribute to socially responsible approaches … Continue reading
The Future of Work – Retraining and reskilling to ease the strain of automation
The Industrial Revolution created a lot of middle-class jobs—with a big lag, a lot of pain and suffering, and a lot of urbanization to go along with it. The transition to the service economy left behind many people, who still feel stranded, because they thought of themselves as contributing productively in the manufacturing sector. But … Continue reading
The Future of Work in Australia – The critical imperative is to ensure that workers – particularly low- skilled men – can access retraining and education opportunities
This sixth report in BCEC’s Focus on the States series looks at the changing nature of employment, the quality of work, and considers the role of technology in the jobs of the future. The report also sheds light on patterns of employment and hours worked across industry sectors, and brings empirical evidence to bear on … Continue reading
The Future of Work in US – How to rebuild the links among work, opportunity, and economic security for all Americans in the face of accelerating change
The challenge facing the United States today is to rebuild the links among work, opportunity, and economic security for all Americans in the face of accelerating technological change. The world is in the midst of a transformation in the nature of work, as smart machines, artificial intelligence, new technologies, and global competition remake how people … Continue reading
Future of Work – Between 75 million and 375 million people around the world may need to change occupation and acquire new skills by 2030
Our starting point is the new MGI report on the future of work, which is called Jobs lost, jobs gained: Workforce transitions in a time of automation. One of the major findings of the report is that between 75 million and 375 million people around the world may need to change occupational categories and acquire … Continue reading
Future of Work in Canada – A skills lab cannot be a solely federal initiative
In the aftermath of the economic crisis, few policy issues have attracted as much attention as skills development. Discussion has focused on the types of skills that employees need to ensure they can successfully navigate an ever-more demanding labour market, and those that employers need to have on hand to help them survive in an … Continue reading
The Future of Work – Wages, income inequality, skills and transition
For large shares of the population in the advanced economies, there has really been no positive movement or no sense of progress in terms of where their incomes have gone over the last one to two decades. When we looked at the data across the US as well as a set of European economies, we … Continue reading
Future of Work – Automation has not been employment-displacing but has reduced labor’s share in value added study finds
Is automation a labor-displacing force? This possibility is both an age-old concern and at the heart of a new theoretical literature considering how labor immiseration may result from a wave of “brilliant machines,” which is in part motivated by declining labor shares in many developed countries. Comprehensive evidence on this labor-displacing channel is at present … Continue reading
The Future of Work in Canada – Eight archetypes of jobs
According to three recent studies, based on 2011 Census data from Statistics Canada (see Figure 1), predictions about the number of jobs threatened by automation range from 35 to 42 percent. The varying percentages result from di erent approaches to calculating the coming speed and pervasiveness of automation. Methodology aside, even at the low end … Continue reading
Future of Work – Automation is a threat to low-income Workers unless the education and workforce systems change
In order to help low-income workers weather the economic storm of automation, a number of changes to the education and workforce retraining systems are needed: 1. Better data must be provided so that practitioners and policymakers can predict and measure the impact of automation and adjust their training programs accordingly. These resources need to be … Continue reading
The Future of Work in Australia – Many jobs will get better, but we will need different skills to do them report says
Over the past 70 years, the nature of work in Australia has transformed. The rst major shi was a gradual transition in the industries Australians worked in. Jobs in construction, manufacturing, mining and agricultural decreased while service sector jobs increased and now employ 80 per cent of Australians. A second shift has been an increase … Continue reading
The Future of Work – In one chart
You’ve seen the headlines: “Robots Will Destroy Our Jobs—and We’re Not Ready for It.” “You Will Lose Your Job to a Robot—and Sooner Than You Think.” “Robots May Steal as Many as 800 Million Jobs in the Next 13 Years.” Such stories are tempting to take at face value. Who wouldn’t want to know if their … Continue reading
Future of Work in Canada – Which provinces are ready?
Some provinces, with more economic diversification or a concentration of workers in areas that are not very susceptible to automation, appear to be better situated for technological change than others, according to a new report from the C.D. Howe Institute. In “Risk and Readiness: The Impact of Automation on Provincial Labour Markets,” author Rosalie Wyonch … Continue reading
Future of Work in US – Roughly three-quarters of Americans think it’s realistic that robots and computers might one day do many jobs
Many Americans expect certain professions to be dominated by automation in their lifetime – but few see their own jobs at risk. Roughly three-quarters of Americans think it’s realistic that robots and computers might one day do many jobs currently done by humans, and sizable majorities expect jobs such as fast food workers and insurance … Continue reading
The Future of Work – Between almost zero and one- third of work activities could be displaced by 2030
In our latest research on automation, we examine work that can be automated through 2030 and jobs that may be created in the same period. We draw from lessons from history and develop various scenarios for the future. While it is hard to predict how all this will play out, our research provides some insights … Continue reading
The Future of Work – Jobs matter and labour markets do not stand still
Jobs matter. For almost all of us, they are more than a source of income, extending to the provision of opportunities for social interaction; a source of self-esteem; or a feeling of contribution to a profession or community. From an economy-wide viewpoint, growing employment rates and higher labour market participation are primary sources of improved … Continue reading
The Future of Work in the Automotive Sector – Deteriorating employment and working conditions.
This summary report on the future of work in the automotive sector focuses on the major changes facing the sector. These include: the rise of emerging economies, new mobilities, the “greening” of the product, and the digitalization of production. This is in order to identify the main challenges for employment and industrial relations and to … Continue reading
The Future of Work – Four ways work will change
Speakers at “The Future of Work,” an all-day symposium held at Stanford’s Frances C. Arrillaga Alumni Center on August 30, explored the changing workplace, new possibilities for higher education, and technology’s impact on careers and industries. The event, attended by about 300 people, was presented by Stanford Career Education and OZY EDU, the education arm of … Continue reading
The Future of Work in Europe – A union perspective
“Yes we can, but no we’re not” Just before the final plenary session, the conference’s ‘themeweaver’ Jacki Davis summarised three days of intense discussion on ‘shaping the new world of work’. “The stakes could not be higher,” she stated, in an economy witnessing increased robotisation and digitalisation. The reshaping of the world of work brings … Continue reading
The Future of Work – A false alarmism that contributes to a culture of risk aversion and holds back technology adoption
In this study we use a novel and comprehensive method to map out how employment is likely to change, and the implications for skills. We show both what we can expect, and where we should be uncertain. We also show likely dynamics in different parts of the labour market — from sectors like food and … Continue reading
Future of Work – Future Skills by the Australian Industry Skills Committee
The Australian Industry Skills Committee (AISC) commissioned the Future Skills and Training Resource to gather and analyse data on Australian and international megatrends, their potential impact on Australia’s future workforce and the implications for vocational education and training. It complements existing data sources and Industry Reference Committee (IRC) intelligence. It is a practical resource intended to … Continue reading
Future of Work in US – 58% say there should be limits on the number of jobs that businesses can replace with machines
Americans are apprehensive about a future in which machines take on more of the work now done by humans, and most are supportive of policies aimed at cushioning the economic impact of widespread automation, according to a new Pew Research Center survey. The vast majority of Americans (85%) say they would support restricting workforce automation … Continue reading
The Future of Work – Erica Groshen, former head of the U.S. Bureau of Labor Statistics on
There is growing attention being paid to the future of work, and concern that changing work relationships—for example, independent contractors, contract agency workers, gig workers, app-based workers, etc.—are evolving faster than BLS can develop the tools to measure. How has BLS considered collecting data to document these forms of work? The main thing BLS has … Continue reading
The Future of Work – Artificial Intelligence (AI) won’t replace most jobs but people using it are starting to replace people who don’t
As AI is increasingly applied to knowledge work, a significant shift will likely take place in the workplace, affecting many jobs in the Western middle class. Contrary to recent dire predictions about AI’s effect on employment, our survey suggests cautious optimism. Most respondents, for example, do not expect that AI will lead to a reduction … Continue reading
The Future of Work – 95% believe they need new skills to stay relevant at work
Digital has already delivered a major blow to businesses slow to respond. There’s more to come. The very concept of work is being redefined as different generations enter and exit the workforce amidst a rapidly changing technological landscape. Responsive and responsible leaders at the very highest levels of the organization must act to harness the … Continue reading
The Future of Work – The Middle East and North Africa
Education and work in the Middle East and North Africa region will determine the livelihoods of over 300 million people and drive growth and development for generations to come. As one of the youngest populations in the world, it is imperative that the region make adequate investments in education and learning that hold value in … Continue reading
The Future of Work – Launch of the ILO’s Global Commission
The Prime Minister of Sweden Stefan Löfven and the President of Mauritius, Ameenah Gurib-Fakim, along with the ILO Director-General Guy Ryder launched a Global Commission on the Future of Work today at the International Labour Organization’s headquarters in Geneva, Switzerland. Chosen excerpts by Job Market Monitor. Read the whole story at B-roll: Launch of the ILO’s Global … Continue reading
The Future of Work – Where the robots are in US : A map
The Metro program has followed the lead of economists Daron Acemoglu and Pascual Restrepo who, in a recent paper, deployed sales data from International Federation for Robotics (IFR) to explore trends in the installation of robots in U.S. and international work places. Although Acemoglu and Restrepo’s paper has been controversial in its modeling of large … Continue reading
The future of Work – Adaptability is the key
One clear lesson arises from our analysis: adaptability – in organisations, individuals and society – is essential for navigating the changes ahead. It’s impossible to predict exactly the skills that will be needed even ve years from now, so workers and organisations need to be ready to adapt – in each of the worlds we … Continue reading
The Future of Work – A framework for understanding
What are the components that collectively constitute “the future of work”? Perhaps the logical place to begin is with the forces that are driving these changes (figure 1). Based on our experience and research, we have identified three forces that are shaping the nature of future work and the future workforce: Technology. Technological advances—for example, … Continue reading
The Future of Work and Automation – The policy implications
The adoption of new technology and new work practices poses particular challenges to both business and policy makers. What are the key priorities they should look to address? Chosen excerpts by Job Market Monitor. Read the whole story at The digital future of work: Policy implications of automation | McKinsey & Company Related Posts The Future of … Continue reading
The Future of Work – What automation will change
Technology experts and economists are engaged in a growing debate about the effect of automation technologies in the workplace. Some “techno-pessimists” are concerned about the mass destruction of jobs, while “techno-optimists” see considerable productivity gains for the economy that will in turn help create new work opportunities. Technology in the past has tended to create … Continue reading
The Future of Work – The skills that will count
For young people today, what’s clear is that they’re going to need to continue to learn throughout their lifetime. The idea that you get an education when you’re young and then you stop and you go and work for 40 or 50 years with that educational training and that’s it—that’s over. All of us are … Continue reading
Cashiers, The Future of Work and Amazon’s purchase of Whole Foods
Amazon’s $13.4 billion purchase of Whole Foods, announced Friday, could speed that vision along. Amazon has already made shopping for almost everything involve spending less time waiting, doing work or interacting with people, and now it could do the same for groceries. It’s already trying with a store in Seattle, Amazon Go, that has no … Continue reading
Future of work – ILO’s Symposium highlights
Highlights from the Symposium featuring voices from the world of work, leading thinkers in government and academia, and the youth on the challenges we’ll face in the Future of Work. Related Posts Education, Training and The Future of Work – Five majors issues POSTED BY MICHEL COURNOYER ⋅ MAY 4, 2017 ⋅ LEAVE A COMMENT Some … Continue reading
Education, Training and The Future of Work – Five majors issues
Some 1,408 responded to the following question, sharing their expectations about what is likely to evolve by 2026: In the next 10 years, do you think we will see the emergence of new educational and training programs that can successfully train large numbers of workers in the skills they will need to perform the jobs … Continue reading
The Future of Work – What do we want ? (video)
Highlights from award-winning economic historian Robert Skidelsky giving a keynote address about the future of work with remarks by ILO Director-General Guy Ryder.
The future of work – The major trends
Gender gap in participation rates is not expected to improve over the coming 15 years Few countries combine an environmentally sustainable footprint with decent work Declining labour force participations rates will exacerbate demographic changes Migration is likely to intensify in the future as decent work deficits remain widespread Global supply chain related jobs go well … Continue reading
Future of Work – We are not facing an employment crisis but a work revolution the World Employment Confederation (International Confederation of Private Employment Services) says
The World Employment Confederation (formerly Ciett) looks into the future of work and urges policymakers to cooperate with the employment industry to determine enhanced international labour regulation As the world of work becomes increasingly flat and interconnected, new global labour policies and regulation are required to deal with issues that go beyond national or regional … Continue reading
Technology, jobs, and the future of work – Several solution spaces to consider
Automation, digital platforms, and other innovations are changing the fundamental nature of work. Understanding these shifts can help policy makers, business leaders, and workers move forward. Policy makers will need to address issues such as benfits and variability that these digital platforms can raise. Accelerate the creation of jobs in general through stimulating investment and … Continue reading
Freelance economy and the future of work
Are these types of platforms an economic boon to workers who want a flexible way togenerate income? Or are they the latest sign of worsening income inequality and a fraying safety net for workers? The answer is a little bit of both. Recent research from the McKinsey Global Institute examined the economic potential associated with … Continue reading
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