Human Capital

More and more jobs are disrupted and lost with technological change. Across the economy, entire categories of jobs are being destroyed as new jobs and industries are created at a faster pace. Despite pessimists’ predictions, we don’t know how many jobs will be affected or when they will disappear altogether.

We know that some people and certain places will suffer more than others. Low-skilled workers in routine occupations are more likely to be affected: More than a quarter of low-skilled workers work in an industry where the workforce is shrinking or shrinking, in a declining occupation, or work with a high probability of automation. Workers with fewer than four GCSEs are more than 1.5 times more likely – 20 percentage points – to find a job with high automation risk than graduates and twice as likely to enter a career that expires after graduation. Decreases with time climate.

This means that automation and industrial decline have important geographic and political implications. As high-risk jobs are unevenly distributed across the country, some places are likely to lose much more than others, and it is always the places that have suffered the most in recent decades that will lose the most in the coming years. In Richmond, London, 14% of residents have declining jobs and the average automation risk for an employee is 39%; in Richmondshire, Yorkshire, the numbers are 32% and 45% respectively.

It is a product of innovation, but also the result of passion. Employers have steadily scaled back their investment in training and skills over the past decade, from an already low base, despite the growing risks of automation, to low-to-medium opportunities. Since 2011, employer spending per student has fallen by 17% in real terms, and participation in adult education in the UK is lower than in the last two decades. At the same time, government programs to improve education and skills have been inadequate: individual student accounts, presented in 2000, have been the subject of a series of police investigations into fraudulent activities, and the introduction of internships has faced difficulties.

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