The push to agriculture allied sectors will be beneficial to absorb the labour moving out of the agricultural sector in the rural areas. One of the major challenges for the government in the new term would be to create suitable jobs. According to the latest PLFS (Periodic Labour Force Survey), the unemployment rate in the country is at a 45-year high, at 6.1%. Although a lot of debate has gone into the level of unemployment in the overall economy, there is no denying the fact that there is an urgent need to create more jobs to truly benefit from […]
Middle-ranking jobs are the ones disappearing, he said.
"My theory, and I hope I’m wrong, is that once there is a downturn there will be a justification to automate roles rather than re-hire people," Mr Bassat said.
Mr Bassat said he was particularly worried about the kinds of "unoriginal businesses" which dominate the Australian economy, singling out the big banks which are all laying off staff.National Australia Bank has committed to a $1 billion cost-cutting drive, aiming to reduce headcount by 2000 a year for three years, whereas Commonwealth Bank is expected to shed about 4000 roles from asset sales alone, […]
The risks of an economic recession are on the rise, but the country’s manufacturing sector is already there.
And for President Trump , who promised to end the “American carnage” of “rusted-out factories scattered like tombstones across the landscape of our nation,” that could be political trouble.
The manufacturing sector shrunk by 1.9 percent in the first quarter of the year, and another 1.2 percent in the second quarter. In July, it is estimated that it contracted 0.4 percent. A recession occurs when an economy contracts in two consecutive quarters.Trump won the Electoral College and White House by becoming the first […]
While automation and robots will displace millions of jobs, it’ll most likely create millions more.
Our current round of technological unemployment might just be a transitionary phase.
The fear of automation has been around for decades. Automation, and the rise of robots with superior AI promises to bring about a new era of industry and civilization. Our wildest sci-fi dreams could be realized within the century. Yet, the clamor and hoopla surrounding the topic has been overwhelmingly pessimistic – bordering on neo-luddism at times. That is, the fear is that advancements in automation, artificial intelligence and robotics will […]
Six Nova Scotian steel and aluminum companies benefit from advanced manufacturing machinery, robotics and modernization
Canadian steel and aluminum companies that embrace automated machining are reducing waste, better utilizing skilled labour, increasing production quality and providing good jobs for Canadians. The Steel and Aluminum Initiative, announced in March 2019, will help steel and aluminum manufacturing businesses grow and modernize thanks to new automated technologies.Today, the Honourable Chrystia Freeland, Minister of Foreign Affairs, announced contributions totaling $2,479,501 to six steel and aluminum manufacturers in Nova Scotia. The announcement was made on behalf of the Honourable Navdeep Bains, Minister […]
Manufacturers were said to be more likely to put investment into factory automation than on its workforce Britain’s productivity problems are showing no signs of relenting, with output per hour falling for a fourth quarter in a row.
Productivity fell by 0.6 per cent between April and the end of June compared with a year earlier, the Office for National Statistics said. The decline was sharper than the previous quarter, when productivity declined by 0.2 per cent year-on-year.
Despite employment being at a record high and wages rising, economists warned that productivity would cap the prospects for future pay growth. […]
Over the last few years, automation has gained immense popularity in various industries. And the manufacturing industry sits on the cutting edge of automation technology, ahead of other industries. With automation, manufacturing companies have revolutionized the way activities were once performed. With autonomous systems coming into the picture, human participation and involvement have reduced significantly. As a result, work gets done faster and more importantly, with greater precision.
Though automation changes the nature of employment, it has brought in huge profit opportunities to the manufacturing industry. One of the most extensively used types of automation machines is the collaborative robot. […]
A Bossa Nova robot scans shelves to help provide associates with real-time inventory data at a Walmart Supercenter in Houston, Nov. 9, 2018. “Technological innovation should be embraced,” notes a recent report from the Aspen Institute, a public policy and research organization in Washington. “Automation has been a largely positive economic and social force, and looking forward, automation will be necessary to feed, house, and raise the living standards of a growing and aging population.”
Still, the short-term disruptive impact on individuals and communities can’t be overlooked, the report says.
To better assess automation’s impact, the Aspen Institute takes a two-pronged […]
Shutterstock Over the last few years, automation has gained immense popularity in various industries. And the manufacturing industry sits on the cutting edge of automation technology, ahead of other industries. With automation, manufacturing companies have revolutionized the way activities were once performed. With autonomous systems coming into the picture, human participation and involvement have reduced significantly. As a result, work gets done faster and more importantly, with greater precision.
Though automation changes the nature of employment, it has brought in huge profit opportunities to the manufacturing industry. One of the most extensively used types of automation machines is the collaborative […]
The robotic revolution is set to cause the biggest transformation in the world’s workforce since the industrial revolution
With pioneering advances in technology many jobs that weren’t considered ripe for automation suddenly are. RS Components have used PWC and ONS Data to reveal how many jobs per sector are at risk of being taken by robots by 2030, a mere 11 years away. Did you think you were exempt from the robot revolution?
The top three sectors who are most exposed to the threats of robots are: chefs and catering industry with 54 percent risk of automation; arts, entertainment and […]