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Labor Market And The Pace Of Transformation. How Technology Impacts Employment

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  • Radu GHEORGHE

    (Athenaeum University, Bucharest, Romania)

Abstract

The labor market has changed fundamentally in recent years. And its future depends on many factors: long-term competitiveness and demographic developments, smart employment regulations, preventive policies in the field, social dialogue, etc. The multidimensional impact of new technologies on society is already being felt. On the one hand, viewed from a favorable angle, transformations generate new opportunities. On the other hand, beyond opportunities, it is generator of many ontological fears. On the other hand, beyond opportunities, many ontological fears are potentiated. 2023 Edelman Trust Barometer, pointed out that about 89% of the working population worldwide is currently worried about the loss of jobs precisely because of the transformations in the labor market. Specialists estimate that intelligent automation will not cause job losses, but they do not rule out changes in their structure. Demands of new tasks will put serious pressure on workers to develop new skills and abilities. Inside an economy increasingly connected to new technologies, 6G internet, cloud services, a simple yet pressing question arises: how prepared is the world’s population for the jobs of the future?

Suggested Citation

  • Radu GHEORGHE, 2023. "Labor Market And The Pace Of Transformation. How Technology Impacts Employment," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 67(2), pages 12-19, May.
    • Handle: RePEc:ath:journl:v:67s:y:2023:i:2:p:12-19
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    References listed on IDEAS

    as
    1. Maarten Goos & Alan Manning & Anna Salomons, 2009. "Job Polarization in Europe," American Economic Review, American Economic Association, vol. 99(2), pages 58-63, May.
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    More about this item

    Keywords

    Digitalization; employment; forms of employment; occupational choice; persistence of unemployment; technological change; skill shortages; skill demand; wage inequality;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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