Will 2020 Bring a Revolution in International Job-Creation?

• Author: Jessica Williams
• Posted: 2023-02-22

Will 2020 Bring a Revolution in International Job-Creation?

CNN Money predicts that 5 million jobs will be lost to robotics technology during 2020. Nearly 10,000 jobs in the retail industry have already been lost in the first quarter of 2020 as shoppers order merchandise online. CNN Money announced that 65% of kindergarten-age children will work in jobs yet to be invented. CNN, reporting from the World Economic Forum in Davos, Switzerland, says white collar and administrative office jobs will face a "fourth industrial revolution." Senior executives from the world's largest companies representing 65% of the global workforce expect that the 7.1 million jobs lost through automation will be offset by 2.1 million newly created technology, professional service, and multi-media jobs.
 

The United States Bureau of Labor and Statistics - February 2020

The United States Bureau of Labor and Statistics reported in March 2020 that manufacturing, mining, and timber company jobs changed little in 2019, but 42,000 construction jobs, 41,000 business and professional service jobs, and 26,000 financial service jobs were added to the economy during 2019. The financial services included credit remediation and real estate services. The financial services industry added 160,000 jobs to the economy in the United States during 2019. Maryland, Massachusetts, and California had the highest percentage of scientific research jobs. Highest paid researchers and technicians in these states earned $3,179 to $3,870 weekly. Iowa, Minnesota, and Nebraska attained the highest ratios of people employed compared to their total population during 2019. Twenty-two states and the District of Columbia had employment ratios greater than the national 60.8% ratio. Only 7.3 percent of all individuals with disabilities were unemployed during 2019 in the United States which is an improvement of .7% over their 2018 unemployment rate.
 

President Donald Trump Promised Industrial Jobs in 2016

President Trump failed to keep his promises to Michigan, Pennsylvania, and Wisconsin laborers, nor has he changed the fact that Michigan is heavily dependent on Mexico for automotive parts. Tariffs on goods from Mexico will be sorely felt by American businesses and consumers. The United Auto Workers Local 652 of Lansing, Michigan, representing a General Motors plant that produces Cadillac cars, says Trump continues to talk, but has not increased the number of manufacturing jobs in Michigan. Michigan's imports from Mexico totaled $56 billion. Texas is highly reliant on Mexico for everything from energy to food. Big cities in California and Illinois depend on Mexican produce and manufactured goods. President Trump did give average workers tax cuts and slightly higher wages, but he's made no real improvements in the number or quality of manufacturing jobs in the United States.
 

The World Economic Forum Predicts 2020 Job Trends

The 2020 World Economic Forum expects that data analysts will be in demand in all economic sectors as international businesses strive to adapt to rapid change. Mathematicians, engineers, software developers, and architects will continue to be in demand. Biochemistry, nanotechnology, and robotics will be growing fields. Specialized sales representatives capable of explaining and demonstrating the newest technology will also be demanded. Salespeople knowledgeable of multiple industries will be needed to retrain a variety of employees, clients, businesses, and governments.
 

Employees Must Be Willing to Learn New Skills in 2020

Senior management must be capable of leading their personnel through information changes. Human resource employees must be able to prepare employees with new skills to meet the demands of 2020 job openings. Sixty-five percent of participants in the forum prefer to invest in their current employees rather than hire new employees. Analysts and lawyers will be needed to regulate emerging technology within international laws. Driverless cars reach speeds of 60 miles per hour within 2 seconds creating a myriad of legal and highway engineering problems.
 

Enhanced 5G Virtual Graphic Technology Accelerates Processing Speeds

The latest 5G technology creates enhanced virtual shopping experiences for consumers while animating inventory, shipping, and billing functions for retailers. New 5G technology allows driverless cars to communicate with each other while breaking and changing lanes. Google and Apple are in staunch competition with Google's acquisition of FitBit. The Apple watch monitors your heart rate, blood pressure, and calories burned. Netflix is gaining competition from Disney Plus, HBO Max, and Apple TV Plus.

Employees most likely to remain competitive in the 2020 economy are those that quickly master new technology, like the new 3-dimensional printer. Many of us have experienced robotic surgery, and most of us purchase goods and services online. Competitive employees think critically and creatively to solve complex problems. They're people-oriented in service professions. Mental agility and high emotional intelligence is expected. Employees in the 2020 workforce must work well with others, be able to negotiate stressful situations, and exercise sound judgment.