The research I conducted this summer focused on the effect of technology on the employment across the world. Most industries have gone through series of technological changes to increase their productivity due to the increasing demand in the international market (Dau-Schmidt and Kenneth, 76). My research also focused on the socioeconomic effects of unemployment such as cybercrimes, low living standards and psychological and mental problems among the unemployed and those who have lost their jobs due to the introduction of automated machines, which have replaced the human labor.
I found out that many of the readings I came across regarding the impact of technology on the current employment status seemed to convey a strong belief on the employment rights in any country, which was demonstrated by the dichotomy of increased productivity versus loss of jobs. Both of these stances entail issues surrounding the employer and the employee since the employer may decide to apply automated machines to increase production efficiency at the same time many employees are losing their jobs. This is affecting the entire economy since the loss of unemployment will lead to very low living standards and reduced purchasing power thereby reducing the level of economic growth in countries where the automated machines have replaced human labor(Bessenand James,16).
The research therefore concludes that the integration of technology threatens jobs of millions because many people are retrenched, subjected to very poor working conditions and earn very low wages. Though the integration of the new technology is very significant to almost all production industries, the government should regulate the number of employees an industry must maintain for it to operate in a given location(David, Dorn, and Gordon, 644). The employees also should pay a vital role in ensuring that they meet the company’s production targets so that the employers do not have the option of replacing available human labor with automated machines.
Bessen, James E. “How Computer Automation Affects Occupations: Technology, Jobs, and Skills.” Boston Univ. School of Law, Law and Economics Research Paper 15-49 (2015).
Dau-Schmidt, Kenneth Glenn. “Employment in the new age of trade and technology: Implications for labor and employment law.” Indiana Law Journal 76.1 (2001).
David, H., David Dorn, and Gordon H. Hanson. “Untangling trade and technology: Evidence from local labour markets.” The Economic Journal 125.584 (2015): 621-646.