a. One of the 3 forces of shaping the future of work is Automation.
– Smarter machines performing ever more human task, replaces the need of employement in future.
With the help of technologies, routine transactional jobs, production jobs are automated. So the requirement of more number of Clerical employees and assembly line work will be reduced.
-In the past technology has enabled firms to replace lower-skilled workers with machines.
-Like Secretarial functions in offices were partially replaced by the computers.
-Supermarkets now using automated checkout machnies.
-Metro passengers can collect the metro tickets from the automated ticket machine counter, etc.
-It shows the higher proportion of lower-skill jobs, such as labourers, machinery operators, and administrators, will be affected by automation in the upcoming years.While nearly half of Australia’s current labour force is employed in high skill occupations (36%) or high touch, interpersonal occupations (10%), a sizeable proportion are employed in lower skill occupations, young people are likely to be disproportionately hurt by automation. Young people tend to get their break into the labour market, in occupations that are forecast to be highly afected by automation.which will lead to unemployement in future.
To address this the policy makers can reform the tax & Transfer system in favour of low income labour.:
– By reducing the tax wadge.
-Offsetting income tax rates with reductions with Higher taxes on capital gains and consumptions.
-By increasing initiatives to make the work pay for low income workers, including tax credits.
b. When the workforce goes global and then the global wrok force comes to us: Technology intensifes the globalisation of labour, by enabling employers and workers to more easily connect and transact accross the globe.
Continued physical mobility of labour may lead to the physical mobility of labour to mainstream that a survey of more than 200,000 individuals worldwide found that nearly 2 in 3 respondents were already working overseas or willing to move abroad for work.18 While the physical mobility of labour is nothing new, the rise of the virtual global worker is a new and potentially very disruptive force. Technology, especially digital talent platforms like Upwork, enables talent to provide their services to a global employer base .Online talent platforms allow companies to tap into talent from globe that are lower cost or hyperspecialized in skills.
-Estimation shows that 11% of the world’s service jobs can be performed remotely.Over the past 15 years there has been strong growth in the labour services purchased from abroad by Australians in computer and IT, technical and trade, professional and fnancial services. In some categories, such as IT, services purchased from abroad are growing at a much faster rate than our sales of services to the world. The amount sold abroad by Australians does not exceed the amount we purchased in any of the services . This may create unemployment in some industries or sectors of a national economy.
c.Remote access will increase the emplyement in the respective countries and will grow more financially.