These 3 trends are changing the labour market forever

Published February 16, 2023

A freelance economy, More automation, Online education

Throughout history the labour market has been full of drastic changes. Even today this is reflected in our economy, where due to factors such as industrialization the best labour opportunities are to be found in large cities. Even in today’s age, there are certain trends that will certainly shake up the labour market. Would you like to know what these trends entail exactly? Continue reading this article to find out what exactly you need to expect.

A freelance economy

First of all, there is a trend in the labour market involving the contracts of labourers. Historically, most people are employed by mid- to large sized companies. This was due to benefits such as a guaranteed pension and vacation days. However, more and more people choose to be freelancers. In layman’s terms this means that you are your own boss. The benefits of this transition is that there is more opportunity to earn a larger amount of money. However, being a freelancer means exposing yourself to more risk as well. Nevertheless the expectation is that the percentage of freelancers in functioning economies will continue to rise.

More automation

Another trend that will alter the labour market is the rise of automation. Automation involves transitioning processes that used to be manual towards a way where they can be carried out automatically. This means that many jobs that used to be done by workers will now be replaced by machinery. A great example of this are truck drivers. Driving a truck is something that is very complicated to do for a computer. However, self driving cars are being developed as we speak, and as soon as they are legal, many truck drivers will have to opt for a career change. Changes such as these will cause a great shift in the labour market, for better or worse.

Online education

The third trend that will change the labour market as we know it, is online education. Although many people in the labour force are well-educated, there are still quite a few people that have chosen not to pursue a degree. Reasons for this could be that they live in isolated villages or need to take care of a loved one at home. With online education providers such as it is possible to now follow a course or degree from home. This means that the overall quality of labourers will increase.

All in all, it is safe to say that elements such as the rise of freelancers, automation being more common and the increasing number of providers of online education are altering the current state of the labour market in a significant manner and will impact the global economy in a way that will be noteworthy.

Press Release Distributed by The Express Wire

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