A Closer Look

Future of Work – The challenge is not that they create too few jobs, but rather that too few workers have the skills

The challenge that all new technologies pose is not that they create too few jobs, but rather that too few workers have the skills to fill them. Just as some jobs benefit from the new technologies, while others become obsolete, so, too, some skills become more valuable, while others are substitutable. The automobile boosted the value of engineering skills and decreased the value of horse-breeding skills. Horse breeders had to learn new skills to maintain their incomes. A good sectoral transition for them would have been to the vehicle production or maintenance sectors. The sectoral bias of new technologies is a challenge that workers take on and eventually master, but not without objections, at least initially.

Chosen excerpts by Job Market Monitor. Read the whole story at Should you be concerned about automation in the workplace? | World Economic Forum

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