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, […]
Copyright 2019 CNN Nurses consistently rank among the most trusted professions. ORLANDO, Fla. – Finding work depends largely on location and if you’re looking to find work in the City Beautiful, you’re in luck.
A 2019 WalletHub study ranks Orlando the third best city for jobs, after comparing 180 cities in the U.S.
More News Headlines The financial planning website ranked cities based on job market value and socio-economic factors. Job market value involved a number of factors, including employment growth, monthly average starting salary, overall job opportunities and other similar factors. The study also takes into account socio-economic details […]
Technology by nature advances quickly. As a transportation industry analyst observed : If a Ford Mustang had evolved as quickly as the pace of computer innovation over the last 35 years, it would now get a reliable 3,666,652 miles per gallon and cost less than $5,000 to acquire. The exponential progression of technologies like artificial intelligence (AI), machine learning and advanced analytics means that technologies of the future are now part of our everyday lives . This means we use them at work — and at home — every time we search on Google, use Uber, get on a […]
It may be an unsettling thought for many business owners to imagine that in a few years’ time, their workforce could look completely different, with a host of, as yet, unidentified new skills required to run operations – many of which their current workforce will not possess.The proposition that a significant proportion of the jobs available right now will no longer be required in ten or twenty years is not unique to any one industry.Indeed, such is the time we’re living in that there are even handy online tools which, with the click of a button, can […]
Although that is true of the computer age, what many do not take into account is that machines, then, could not reason. An Oxford study, in 2017, found that developed countries are set to lose over 45% jobs to automation. Another one set the figure at 50%. The fact that there would be wide-scale unemployment with the onset of the fourth industrial revolution is a forgone conclusion, but what kind of jobs will be lost is the main point of contention.
Some economists highlight that the future may not be so different from the present, and all that may change […]
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 […]
The Digital Gilded Age would seem to be producing its own version of “the help” that tended to the wealthy during the American Gilded Age of the late 19th century, or the estates of Britain at the Empire’s zenith.
Think of it as Downton Abbey without the snazzy period costumes, or getting to live in the baronial manor, or having paternalistic aristocrats occasionally reward the loyalty of those “in service.”
That, at least, is the impression one might get from a recent story by Christopher Rugaber of The Associated Press.“One of the fastest-growing job categories of the past decade has been […]
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 […]
Representational image | Photo: Krisztian Bocsi | Bloomberg Whether AI and automation will create, eliminate or modify jobs, and how much, is the central question of a never-ending debate. In 2013, the Oxford academic duo Carl Benedikt Frey and Michael Osborne published a study titled “ The Future of Employment: How Susceptible Are Jobs to Computerization? ”, which estimated that 47% of American jobs are at high risk by mid-2030.
Last year, the World Economic Forum (WEF) released The Future of Jobs 2018 report, stating that algorithms and intelligent machines are expected to create 133 million new roles globally while […]
There is an adage that states “if you want to know the future of a nation, study the behavior of its teachers”.
The most potent force for political, economic and social progress in society is education. The measure of how great a nation will rise is determined by how many people in its population are educated. The African continent today has a total purchasing power parity gross domestic product (GDP) of $6.7 trillion, and a population of 1.2 billion people.
According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), in 2016, sub-Saharan Africa had a literacy rate of 76% […]