What will the global labor market look like in 2025 and 2030?
Considering the modern tendency, the number of people is going to increase globally. However, it is worth stating that the business owners have a good opportunity to choose the workers as there are many people, who are eager to work, and thus, they can pay less money. The employees will work for even lower wages as there are not so many options (Basirico and Cashion 45). The majority of workplaces that required people are now mechanical, and the demand for humans decreases. In the future, the work of a human being will be needed only in case the work of the robots will be too costly. The advance and innovations of the technological sphere stimulate and foster the inventions of the robots that will substitute human work.
How will the labor market influence the economy of different regions in the world (GDP, Unemployment rates, dependency index …etc)
The future development of the labor market will consequently lead to a decrease in the price of goods. The employers will spend less money to manufacture the product. The wages will decrease. However, there is a problem that is associated with the issue. The ability to purchase products will decrease as well because people will make less money, and thus, will have less money to spend on food and entertainment. According to the forecasts made by the experts, the labor market will influence the GDP differently in different countries across the globe. The GDP of China is believed to double and become close to the GDP of the United States (Bolton par. 7).
The economy across the globe will be worse as the population will increase; however, the labor market cannot keep pace with the population, and thus, there will be fewer jobs in comparison to the number of potential employees. The unemployment rate will increase.
How will technology drive labor growth?
The development of the technologies will consequently lead to the fact that the work of a human being will be substituted by machinery. The corporations will need fewer people. However, it does not mean that the products will cost less (Haller 34). It will lead to an increasing gap between rich and poor. That is, such issues should be taken into consideration.
What specific jobs/disciplines will disappear or will be created (for graduates and non-graduates)
The demand for people who will control and manage the process will only increase. However, ordinary workers will experience difficult times as people without a degree will not be needed for the process of production (Black 63). Highly professional project managers in the sphere of technical and technological service will enjoy great popularity as well as people who will innovate and control the production of machinery. Technical support managers, IT program managers, and technical project managers will be popular in the future as the need to control and support the machinery will only increase. The professions that are related to data mining will disappear, namely, IT procurement manager as the information can be collected and analyzed by computers in a more effective way.
What should we do today to be ready for that future?
The perfect option would be coming back to Fordism; however, it is not possible in the age of globalization. I do not profess to be an expert regarding the subject, but I am strongly convinced that society should invent new approaches and models that protect the rights of the workers. The government should be interested in the reduction of the gap between rich and poor (Laing 25). The reduction of inequality should receive the highest concern and priority. Otherwise, the society will face intense social inequality that will consequently lead to conflicts and confrontations. According to recent researchers, eighty people own as much money as half of society (Woods par. 5). This economic inequality has already become a global issue that can have severe consequences for humanity.
Works Cited
Basirico, Laurence, and Barbara Cashion. Understanding Social Problems. Redding: BVT, 2012. Print.
Black, Stanley. Globalization, Technological Change, and Labor Markets. Boston: Kluwer, 2012. Print.
Bolton, Doug. “US? China? India? The 10 Biggest Economies in 2030 Will Be…” The Independent. 2015. Web.
Haller, Max. Ethnic Stratification and Economic Inequality Around the World: The End of Exploitation and Exclusion? New York: Routledge, 2015. Print.
Laing, Derek. Labor Economics: Introduction to Classic and the New Labor Economics. New York: W.W. Norton, 2011. Print.
Woods, James. “Meet the 80 Billionaires Who Own as Much as Half of Humanity.” U.S. Uncut. 2015. Web.