Technology and robots destroying jobs faster than creating new ones

The current job growth all over the world has been described as somehow anemic. This unfortunate state has been experienced globally has basically driven the narrative, “robots are killing our jobs”. Over the years we have seen technology advance greatly right in front of our eyes. New and powerful IT-enabled machines and softwares are been released into the market almost every day.

According to a large number of the world’s population, the accelerating technological change has replaced hundreds of jobs and is only going to make the situation worse. We need to address the question: how susceptible are jobs to technology or robots and examine the impact of technology on the labor market.

Technology is basically aimed at easing the day to day life of any human being. Cell phones, computers, cars, trains and any other technological machine has brought vast change around the globe and also most possibly lead to the decline of employment in routine intensive occupations.

Institutions and many other organizations have greatly invested in computer-controlled equipment providing a possible explanation as to the current low rates of employment. In the earlier years, manual tasks, routine manufacturing tasks, cognitive tasks and other routine jobs were providing a great number of employment opportunities. However, a lot of these basic tasks have been computerized with employers arguing that the computerization allows a higher degree of flexibility and physical adaptability. Basic tasks are now easily taken care of by sophisticated technological apps, softwares and other algorithms. Arguably, this can explain the ongoing structural shift that the labor market is experiencing. Basic routine jobs are easily been replaced leading to the continuous low rates of employment.

According to experts, the number of jobs at risk of automation or computerization is bound to rise. The risks are highest in the transportation, retail, storage, wholesale and manufacturing industries. Luckily, however, a number of regulatory, economic and legal reasons may not allow for the automation of these particular job industries.

In addition, the automation of these job industries will actually create new employment opportunities in the digital technology department. The actual impact of automation on the total scale of employment is therefore not clear. The productivity gains will definitely lead to a rise in the tax income, but the advantages will only be spread to specific income groups.

The differentiating factor is greatly determined by education and your skills when it comes to employment. For individuals who only have a GCSE-level of education or lower, the careers they may pursue are at a high risk of automation. Individuals who have undergraduate degrees or higher are more likely to enjoy the benefits of automation.

To ensure that you get the potential gains from the current trend of automation writingcheap  provides a great platform to all technology related answers and practices.

Productivity growth and making profits is basically the most important factor to ensure a steady global market and economy. Therefore higher productivity is needed all around the world. Technology has been one of the top factors driving the economy and productivity levels higher, however, it’s important to keep in mind that we must not rely fully on technology advancement and implement certain productivity policies that will be of benefit to all.