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Technology Will Create Millions of Jobs. The Problem Will Be to Find Workers to Fill Them

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An Information Technology employee.

New technologies will lead to tens of millions of job vacancies by 2030, but that does little to erase the threat of unemployment spiking due to the automation of labor, according to the latest economic analysis from Boston Consulting Group.

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Economic analysis by Boston Consulting Group (BCG) indicates that new technologies will create tens of millions of jobs by 2030, but are unlikely to offset job losses from automation over the same period.

Models of prospective changes in labor supply and demand in Germany, Australia, and the U.S. forecast that the next decade's job losses will be matched by even greater job creation.

BCG's Miguel Carrasco said, "It is unrealistic to expect perfect exchangeability—not all of the surplus capacity in the workforce can be redeployed to meet new or growing demand."

Occupations facing the biggest shortages include computer-related professions and jobs in science, technology, engineering, and math.

BCG recommends aggressively upskilling and retraining the workforce, to ensure the timely fulfillment of demand for talent.

From ZDNet
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