Future of Jobs, Skills and Wages
What the future of work will mean FOR jobs, skills, and wages
By James Manyika, Susan Lund, Michael Chui, Juazques Bughin, Jonathan Woetzel, Parul Batra, Ryan Ko, and Saurabh Sanghvi at McKinsey & Company
It is no secret that technology is growing and improving every single day. One of the fastest-growing technology fields is automation. New research assesses the job displacement and growth by the year 2030.
Automated machines will rapidly replace workers in larger firms and factories. It is faster, more precise, and you don’t have to pay it. In about 60 percent of occupations, at least one-third of activities can be automated. This will cause large workplace transformations for workers in large scale companies in the coming years.
However, automation will also create jobs. Research shows that the global population of people over the age of 65 will increase by 300 million. These consumers spend prominently on healthcare and other services as apposed to physical products. This will increase the jobs in healthcare and related fields significantly. Other fields projected to grow due to automation are professionals like engineers and scientists, IT professionals, managment, and many others.
While automation will displace many workers from their jobs in manufacturing, it will be easy to find other jobs created by other growing market needs.
Read the full article here.