The development of the labor market

By Andreas Jacobsson, 16. Jun 2019

2 MIN READ

Changes are happening in the labor market, and you’ve probably heard buzzwords such as "Gig economy" or "Sharing Economy"? All the buzz has emerged from todays devolvement in technology.

In short, it has affected the way:
We’re working
How We define work
How We live and find meaning in our lives 

The pace of change has never been this fast

The technological development  put to its outer core, to solve all of our challenges with limited global resources (food, supply etc). The pace of change has never been this fast, yet it will never be this slow again. Just compare the gap between Technology and the different instances below, to see the big gap.

Picture from Deloitte University Press

In a World of robots and AI


Automation, Robots, and AI are main factors which can affect our lives in better ways by increasing productivity etc. It also puts a lot of pressure on the labor market since it will take some our jobs. The new technology will “kill” 75 millions jobs by 2022, and at the same time create 133 million new ones, accordning to the World Economic Forum. A lot of pressure will be put on us humans, and can be summarized in: Continious learning.

If you’re reading articles about FoW then you will encounter words such Re- and Up-skilling, which is about learning something completly new, and/or specialize in a specific field. You will be pushed to do this, wheter you like it or not, to stay relevant in future labor market. Maybe a robot will take your job, or maybe your next colleague will be a robot. 
 
The future organization will be a blended organization with employees, gig workers, and robots (Forbes).  
 
Picture from World Economic Forum
 
To be able to understand why and how the labor market is changing, it’s important to have an overall understanding of the five MEGA trends that are driving this change:

*Technology – AI, Robotization, andautomation
*Demographical changes – We live longer, and have, for the first time ever, five generations in the labor market right now
*Urbanization – More and more will move to cities in the future
*The Climate and Sustainablity - We need more energi, food, and water with a limited supply
*Shifts in ecnomical power between countries and companies
(PWC, Workforce of the future The competing forces shaping 2030)