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If the report underestimated the increase in STEM jobs over the period 2020-2028 by 11%, and overestimated the decrease in manufacturing and production jobs by 26% over the same period, what would be the impact on the actual number of jobs available in total across these sectors?

If the report underestimated the increase in STEM jobs over the period 2020-2028 by 11%, and overestimated the decrease in manufacturing and production jobs by 26% over the same period, what would be the impact on the actual number of jobs available in total across these sectors?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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If the report underestimated the increase in STEM jobs over the period 2020-2028 by 11%, and overestimated the decrease in manufacturing and production jobs by 26% over the same period, what would be the impact on the actual number of jobs available in total across these sectors?

Bar chart showing what proportion of HRDS completing the survey work in each industry Note: 333 HRDs were invited to complete the survey, one per organisation. 45% of invitees actually completed the survey. Healthcare Consumer Information & Communication Technology Energy Basic & Infrastructure Financial Services Investors Others Cloud Technology Big Data Renewable Energy Crowdfunding Robotics Automation 3D Printing 0% Biotechnology 1% Responses to survey questions asking about the most important technological catalysts for change over the next years Note: The chart shows the proportion of respondents selecting each of these 8 categories. 0% North America Asia European Union Middle East Central America Eastern Europe Africa 2% Geographical location of Head Offices Bar chart showing the location of the Head Office of the organisations whose HRD completed the survey South America The Caribbean Oceania 0% 6% 8% 5% 2% 8% 9% 3% 10% 11% 5% 12% 10% 12% 14% 16 % 18 % 20% 16% 18% 20% 22% 24% 26% 28% 30% 32% 28% 30% 32% 34% 36% 38% 40% 42% 44% 46% 8% 13% 9% 14% 10% 15% 11% 16% 12% 13% 17% 18% 19% 14% 20% 50% 52% 54% 56% 58% 60% 62% 64% 66% 68 % 70% 72% 74% 76% 78% 80% 82% 15% 21% 16% 17% 18% 19% 20% 21%
Transcribed Image Text:Bar chart showing what proportion of HRDS completing the survey work in each industry Note: 333 HRDs were invited to complete the survey, one per organisation. 45% of invitees actually completed the survey. Healthcare Consumer Information & Communication Technology Energy Basic & Infrastructure Financial Services Investors Others Cloud Technology Big Data Renewable Energy Crowdfunding Robotics Automation 3D Printing 0% Biotechnology 1% Responses to survey questions asking about the most important technological catalysts for change over the next years Note: The chart shows the proportion of respondents selecting each of these 8 categories. 0% North America Asia European Union Middle East Central America Eastern Europe Africa 2% Geographical location of Head Offices Bar chart showing the location of the Head Office of the organisations whose HRD completed the survey South America The Caribbean Oceania 0% 6% 8% 5% 2% 8% 9% 3% 10% 11% 5% 12% 10% 12% 14% 16 % 18 % 20% 16% 18% 20% 22% 24% 26% 28% 30% 32% 28% 30% 32% 34% 36% 38% 40% 42% 44% 46% 8% 13% 9% 14% 10% 15% 11% 16% 12% 13% 17% 18% 19% 14% 20% 50% 52% 54% 56% 58% 60% 62% 64% 66% 68 % 70% 72% 74% 76% 78% 80% 82% 15% 21% 16% 17% 18% 19% 20% 21%
Future of jobs SUMMARY ARTICLE It is estimated that over half of Swiss children starting primary school in September 2020 will, by the time they finish their education, find a job working in a role that does not yet exist. Equally, socio-economic developments and improvements in technology mean that many occupations which were once high in demand are beginning to disappear. So, what are the catalysts for this change, and what skills should we be equipping the next generation with to deal with this rapidly evolving employment landscape? A recently published report has sought to shed some light on these issues by asking Human Resources Directors (HRDS) for large global organisations to predict what the future of their industries will look like in 10 years and, more specifically, which impending changes will have the greatest impact on the future of jobs. Industry group Basic & Infrastructure Consumer Energy The number of employees employed by the large global organisations represented by the Human Resources Directors (HRDS) who completed the survey, split by industry group Healthcare Financial Services & Investors Catalysts to change The last decade has seen huge technological advances, and these developments have united previously disjointed occupations. Robotics, genetics, nanotechnology, machine learning, 3D printing and artificial intelligence, which were on the very fringes of science, are now commonplace in manufacturing and business. Information & Communication Technology Others Alongside these technological advances, socio-economic and geopolitical shifts are causing business models to be redesigned. HRDS highlight one issue in particular that needs to be considered - quantifying skills shortages within an occupation, job family or entire industry. A further factor needing to be considered to understand how the benefits and burdens of these changes will be distributed is the future proportions of men and women in the workplace, currently split 50:50 across the globe as a whole. Industries Overall Changing nature of work Current trends estimate a net global employment impact of more than 8.3 million jobs being disrupted by market Number of employees 1,967,000 1,275,000 2,892,000 3,556,000 971,000 1,082,000 2,643,000 changes over the period 2020-2028, with a total reduction of 4.1 million positions. Nearly three-quarters of these will come from white-collar office functions such as administration and supply management. 14,386,000 This report also suggests an increase of 2 million jobs in Science, Technology, Engineering and Maths (STEM) occupations, and an equal fall in the number of positions expected in the Manufacturing and Production industries. However, the authors of the report conclude that employers in these sectors have great opportunity to re-energise, reskill and redeploy their workforce rather than simply replacing them. Respondents from across practically all industries and geographies noted that data analysts will be required to make sense of the data generated by new technology, specialised sales representatives will be needed to explain businesses' offerings to clients and consumers, and a new type of chief executive will thrive - someone who is able to help steer companies through these unpredictable times.
Transcribed Image Text:Future of jobs SUMMARY ARTICLE It is estimated that over half of Swiss children starting primary school in September 2020 will, by the time they finish their education, find a job working in a role that does not yet exist. Equally, socio-economic developments and improvements in technology mean that many occupations which were once high in demand are beginning to disappear. So, what are the catalysts for this change, and what skills should we be equipping the next generation with to deal with this rapidly evolving employment landscape? A recently published report has sought to shed some light on these issues by asking Human Resources Directors (HRDS) for large global organisations to predict what the future of their industries will look like in 10 years and, more specifically, which impending changes will have the greatest impact on the future of jobs. Industry group Basic & Infrastructure Consumer Energy The number of employees employed by the large global organisations represented by the Human Resources Directors (HRDS) who completed the survey, split by industry group Healthcare Financial Services & Investors Catalysts to change The last decade has seen huge technological advances, and these developments have united previously disjointed occupations. Robotics, genetics, nanotechnology, machine learning, 3D printing and artificial intelligence, which were on the very fringes of science, are now commonplace in manufacturing and business. Information & Communication Technology Others Alongside these technological advances, socio-economic and geopolitical shifts are causing business models to be redesigned. HRDS highlight one issue in particular that needs to be considered - quantifying skills shortages within an occupation, job family or entire industry. A further factor needing to be considered to understand how the benefits and burdens of these changes will be distributed is the future proportions of men and women in the workplace, currently split 50:50 across the globe as a whole. Industries Overall Changing nature of work Current trends estimate a net global employment impact of more than 8.3 million jobs being disrupted by market Number of employees 1,967,000 1,275,000 2,892,000 3,556,000 971,000 1,082,000 2,643,000 changes over the period 2020-2028, with a total reduction of 4.1 million positions. Nearly three-quarters of these will come from white-collar office functions such as administration and supply management. 14,386,000 This report also suggests an increase of 2 million jobs in Science, Technology, Engineering and Maths (STEM) occupations, and an equal fall in the number of positions expected in the Manufacturing and Production industries. However, the authors of the report conclude that employers in these sectors have great opportunity to re-energise, reskill and redeploy their workforce rather than simply replacing them. Respondents from across practically all industries and geographies noted that data analysts will be required to make sense of the data generated by new technology, specialised sales representatives will be needed to explain businesses' offerings to clients and consumers, and a new type of chief executive will thrive - someone who is able to help steer companies through these unpredictable times.
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