Are you positioned well enough to compete in the new labour market?
According to Creative Economy Experts, Richard Florida and Roger Martin, routine-oriented occupations will be phased out and replaced by workers with analytical and social intelligence skills – skills that cannot be outsourced, replicated or automated.
According to a report that was submitted to former Ontario Premier, Dalton McGuinty, Florida and Martin suggest that a Creative-Based Economy will encourage a globally competitive workforce and prosperity for the province.
A Creative-Based Economy will require workers with Analytical and Social Intelligence Skills. These skills require critical thinking and solution-based approaches, as well as the ability to communicate, collaborate and reason.
Workers with Social Intelligence and Analytical Skills generally see a rise in earnings by 18-25K – good news for the economy and for the workforce.
8. Emerging Knowledge Economy
Rick Miner, Labour Market Expert, author of “Jobs of the Future: Options and Opportunities” indicates that the proportion of the labour force with education or training beyond high school must increase dramatically.
In 2007, Human Resources and Skills Development Canada estimated that by 2012, 65% of all new jobs created “are expected to require some form of post-secondary education/training”. This includes apprenticeship, graduation from a college, polytechnic or university, or industry certification.
In addition, continuous learning and training will be an important part of the new labour market. Employer-provided training should increase and literacy rates need to be improved throughout Canada.
Because wages increase in relation to education, training and literacy, investing in knowledge stands to benefit workers, employers and the economy.
9. Global Labour Market
The new era of Economic Globalization is the result of technological advancements that make it possible to communicate and transmit information rapidly and cost-effectively.
For those sectors that have been sheltered from trade-related competition, the changes to the work world may prove to be extensive.
For some economic sectors, globalization has already resulted in a loss of jobs due to outsourcing – this includes routine-oriented manufacturing type positions as well as white collar IT jobs in the services sector.
Technology and globalization will profoundly impact the way we work. New talent pools will begin to emerge all over the world, providing opportunity for anyone with the skills and ability to participate.
How we work is changing rapidly. Work-place challenges will require innovative solutions. We must constantly adapt to the increasingly competitive labour market by acquiring the skills that are needed to succeed and thrive.
Written by: Elsii Faria, Marketing and Outreach Specialist for Durham Region Unemployed Help Centre