Tag: manufactur

Jobs and careers in the ‘fourth industrial revolution’

By Jock Finlayson
and Kristine St.-Laurent
Business Council of B.C.

The work world is being transformed by rapidly evolving digital technologies as we march into what many are calling the “fourth industrial revolution.” Jock Finlayson With disruptive technologies pushing the frontiers of automation, some of the comparative advantages humans traditionally have enjoyed relative to technology are eroding. Computers and learning-based algorithms have progressed beyond replacing repetitive, manual tasks with mechanical execution.Now, recognizing patterns, providing diagnoses and communicating complex information – three activities once seen as within the purview of people – are increasingly performed by computers. Doctors, lawyers, accountants […]

The zero-sum economy

LONDON — Across the global economy, the potential for automation seems huge. Adidas’ “Speedfactory” in Bavaria will employ 160 workers to produce 500,000 pairs of shoes each year, a productivity rate over five times higher than in typical factories today. The British Retail Consortium estimates that retail jobs could fall from 3 million to 2.1 million within ten years, with only a small fraction replaced by new jobs in online retailing. Many financial-services companies see the potential to cut information-processing jobs to a small fraction of current levels.

And yet, despite all this, measured productivity growth across the developed economies […]

Will the continued rise of automation cause widespread job losses?

Will the continued rise of automation cause widespread job losses?

It is clear that the jobs most likely to fall victim to automation are the low-skilled ones, especially the ones that involve tasks that can be mimicked by a machine

As labour-saving technologies advance, concerns regarding job security will likely rise in tandem. According to a study by PwC, 37 percent of the 10,000 people surveyed across five countries were worried automation would put jobs at risk. The bulk of available evidence seems to suggest there is little reason to worry, as the net effect on employment will likely be small and may, in fact, result in gains. But dealing […]

The Zero-Sum Economy

The Zero-Sum Economy

The anthropologist David Graeber has argued that as much as 30% of all work is performed in “bullshit jobs,” which are unnecessary to produce truly valuable goods and services but arise from competition for income and status. But the deeper problem is that more and more economic activity performs a merely distributive function.

LONDON – Across the global economy, the potential for automation seems huge. Adidas’ “Speedfactory” in Bavaria will employ 160 workers to produce 500,000 pairs of shoes each year, a productivity rate over five times higher than in typical factories today. The British Retail Consortium estimates that retail […]

Coping with Technology: Challenges and Opportunities for ASEAN+3 Economies

Coping with Technology: Challenges and Opportunities for ASEAN+3 Economies

Technology Technological change and the relentless pace of automation offer significant opportunities for productivity growth and improved efficiency, but they also bring related risks of increased worker displacement and the challenge of upskilling labor.

While the rise in trade protectionism (discussed in the first part of this interview ) is an immediate reality the ASEAN+3 economies are confronted with, coping with technological advances and using them to drive productivity and growth is a medium- to long-term challenge for the region.

In this second part of the interview, AMRO’s chief economist, Hoe Ee Khor, touches upon this topic, as well as other […]

It’s all a matter of policy: Why robots, artificial intelligence mightn’t put us out of work

It’s all a matter of policy: Why robots, artificial intelligence mightn’t put us out of work

A technician works on a robot, part of a display by the German Research Centre for Artificial Intelligence. Robots haven’t resulted in the job losses predicted in that country. Source:AFP

THERE have been three industrial revolutions in modern history. The first was driven by steam power, the second by mass production, and the third by automation in the late 20th century.

Now, in the early 21st century, a ‘fourth industrial revolution’ is driving changes where artificial intelligence (AI), machine learning, automation and big data are combined in a process referred to as ‘Industry 4.0’ — and it’s making businesses more […]

After Recessions, Why Do Some Jobs Disappear Forever?

After Recessions, Why Do Some Jobs Disappear Forever?

During the financial crisis of 2008, employment fell dramatically, as was expected. But in the economic recovery that followed, only certain jobs bounced back. A research paper by Wharton finance professor Nikolai Roussanov looks at this phenomenon and correlates it with technological adoption by companies during a down economy.

The paper, whose co-authors are Cornell University professor Mathieu Taschereau-Dumouchel and Wharton doctoral student Alex Kopytov, is titled “ Short-Run Pain, Long-Run Gain? Recessions and Technological Transformation .” Roussanov recently sat down with Knowledge@Wharton to explain the scope and goal of the research as well as what they found. […]

Economist Kaushik Basu worried over poor jobs data in India

Economist Kaushik Basu worried over poor jobs data in India

[File] Kaushik Basu | Reuters Kaushik Basu, the former chief economic adviser to the government of India, has raised concerns on the state of India’s jobs market and has also called for improving education standards, where we have slipped in rankings.

"Jobs data is very poor in India. Part of it is legitimate reason that so much of work is so different from what you get in the west that the definitions of west with which you are collecting (data), Indian answers will not fit into these and we are not good at collecting jobs data. But from all the […]

Rebuilding the employment security system for the Rust Belt that created it

Rebuilding the employment security system for the Rust Belt that created it

Industrial transformation, brought on by global trade, new digital technologies , and changes in the structure of work, have hit Rust Belt communities hard. Some places, such as Pittsburgh and Kalamazoo, have gone through painful transitions and come out the other side. However, the majority of the Rust Belt’s older industrial cities continue to struggle with job loss and weak economic growth.

The collapse of the region’s labor-intensive manufacturing-based economy took its toll on the employment-based safety net protections that Midwestern employers and unions forged after World War II. Today, employer-based systems of health insurance, pensions, and unemployment insurance serve […]

Manufacturing Adds 37,000 Jobs in July, Led by Transportation

Manufacturing Adds 37,000 Jobs in July, Led by Transportation

Senior Editor Manufacturing added 37,000 jobs in July, with transportation performing the heavy lifting for the sector.

Transportation boosted payrolls by 13,100 jobs last month, according to a breakdown by sector issued today by the U.S. Bureau of Labor Statistics. Motor vehicles and parts, part of the total transportation figure, added 5,900 jobs.

Manufacturing outperformed the rest of the economy. Total non-farm employment increased by 157,000 jobs in July, according to a bureau statement . That was less than the 190,000 jobs forecast by economists surveyed by Reuters .Durable goods industries accounted for 32,000 of the total manufacturing job gain. Others […]