Technology is creating more jobs than it destroys
Its official – technology has created more jobs than it has destroyed in the last 144 years according to a report produced by Deloitte – Technology and People: The Great Job Creating Machine In fact, technology has boosted employment in knowledge-intensive sectors such as medicine, accounting and professional services.
Clearly advances in machine learning and increases in storage, processing and communication capacity are enabling machines to tackle complex tasks involving thought and judgement, which were once the sole preserve of humans. Jobs are being automated more quickly, or made less labour intensive which is good news for us humans.
One of the surprising results the research has thrown up is the increase in Nursing in the UK, a rise of 909% between 1992 and 2014, employing over 300,000 workers, also interesting to note is the rise of Management Consultants and Business Analysts, up 365% to 188,000.
Not surprisingly and sadly the losers would include trades people and some skilled workers – Footwear and Leather down 82% to just 7,528 workers and as expected Typists, Secretaries and Administrative workers when combined down 54% to 95,761.
Obviously the upside of technology has been a lowering of costs of essentials, raising disposable incomes and creating new demand and jobs in the caring, creative, technology and business services sectors.
“Easy access to information and the accelerating pace of communication have revolutionised most knowledge-based industries,” say the authors Ian Stewart, Debapratim De and Alex Cole, economists at Deloitte LLP. At the same time, rising incomes have raised demand for professional services and more money to spend on leisure and recreation activities.
So it is not all bad news!