Economics Assignment Solution (Doc)

Added on - 21 Apr 2020

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Running head: ECONOMICSEconomicsName of studentName of UniversityAuthor note
1ECONOMICSMcKinsey Global Institute has provided a brief description about Technology, Jobs andthe Future of Work. From the case study, it could be understood that the market incomesdecreased while the implementation of newer technologies created both positive and negativeeffects such as providing 1.2 million jobs to people and even destroying over 500,000 jobsduring the last 15 years (Manyika 2016).With the implementation of newer and advanced technologies, digital platforms werecreated and it had brought continuous innovation and improvements, thereby changing the entirenature of work and improving the platform through which jobs would be provided to people inAustralia. There was divergence of labour market opportunities between the jobs that requiredhigh skills and lower skills. There were many individuals who had been employed andunemployed during those years and due to the difference in incomes of people, the marketincomes reduced largely. Political issues like migration and lack of proper implementation ofemployment policies had further deteriorated the entire situation, furthermore led to thereduction of market incomes (Tambe and Hitt 2013). Though with the introduction of latesttechnologies including artificial intelligence and robotics, the production level has increasedalong with greater safety and convenience for people who gained employment opportunities, stillthe automation processes, to an extent, created both positive and negative effects on the workand employment opportunities (Manyika 2016).There are various ways by which, the digitalization and technology implementation hasbenefited many people to start their own business, grab employment opportunities and manymore. The use of internet has created job matching websites for people to look in for jobs and getrecruited at major companies. The individuals who are independent have provided servicesthrough digitalized platforms like Uber, Etsy, etc. and creating ease for customers to gains
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