Economic Analysis: Theory and Practice
 

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Labor market in the digital era

Vol. 17, Iss. 12, DECEMBER 2018

Received: 6 November 2018

Received in revised form: 15 November 2018

Accepted: 26 November 2018

Available online: 24 December 2018

Subject Heading: ANALYSIS OF HUMAN CAPITAL

JEL Classification: J21, J23

Pages: 1388–1408

https://doi.org/10.24891/ea.17.12.1388

Erznkyan B.A. Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russian Federation
yerz@cemi.rssi.ru

ORCID id: not available

Arutyunyan S.M. OOO Omega Engineering, Moscow, Russian Federation
samvel2424@gmail.com

ORCID id: not available

Subject The paper investigates the main trends and prospects for the global labor market development, the current market conditions, and provides a comparative analysis of the latest medium- and long-term forecasts of technical and technological evolution and its possible impact on demand and supply in the labor market.
Objectives The aim is to formulate a concept of the Russian labor market development, taking into account global technical, technological and economic transformations to overcome possible threats of crucial processes.
Methods The study draws on methods of economic and statistical analysis, expert evaluation, and analytical techniques of data collection and processing.
Results Along with obvious positive changes in the quantitative and qualitative indicators of the labor market, there is a number of fundamental problems that relate to child labor exploitation, a growing gap between poor and advanced economies, an increase in forced economic migration, and regional labor imbalance. All these problems should be handled in circumstances where there is no clear understanding of the nature and growth rates of the global labor market.
Conclusions Technological progress will modify the labor market without affecting the share of economically active population. The main tasks of the State and the business will be to develop effective systems to train highly qualified specialists, retrain the available human resources, and reduce socio-economic risks of both the individual and the entire society. Russia needs a complete integration into global processes, ongoing improvement of qualitative and quantitative indicators of professional skills, and an increase in business and investment activity.

Keywords: robotization, artificial intelligence, AI, automation, demand for labor

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