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ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Prepare 5 important points for the article

The Labour EU.. ERA SEIS A monthly bulletin of EU- our rescarch activities and publications Vol 2. No. 2 FEBRUARY 2021 HIGHLIGHT OF THE MONTH Does digitalisation drive labour market transformation? Heizlyn Amyneina Hamzah and Henny Abigailwillyen Sinjus wwwww Top 5 Jobs 1 Data Analysts and Scientists 2 Al and Machine Learning Specialists Top 5 Skills 1 Analytical Thinking and Innovation 2 Active Learning and Learning Strategies 3 Complex Problem-Solving 3 Big Data Specialists 4 Digital Marketing and Strategy Specialists 4 Critical Thinking and Analysis 5 Process Automation Specialists 5 Creativity, Originality and Initiative See fure of Sey 2AUE faam la INTERESTING INSIGHTS: Quick adaptability is essential for businesses to stay resilient and afloat during this pandemic time. COVID-19 has proven the need to adapt and utilise technology in every sector, at a rapid pace. Also, as the pandemic hits, a lot of sectors have shifted to digital means. Coping Labour Market with Digital Transformation Whilst the digitalisation adoptions are not a sole action made by the businesses, the Malaysian government plays a pivotal role to digitalise the whole nation's economy as well. Digital transformation will trigger structural changes in the labour market. The Labour Market Bathtub Recently, MyDIGITAL or the Malaysia Digital Economy Blueprint has been launched to accelerate the country's digital economy development and elevate all citizens quality of life. It serves as a digital transformation plan that empowers the business sector, developing human capital and equipping society to thrive Malaysia into a regional leader in the digital economy. One can think of total employment in the economy as the water level in the bathtub, which is determined by the inflow (labour force entry) and outflow of water (labour force exit). Poultry-luck of a travel agency business MYDIGITAL is expected to drive future demand on new job roles and sets of skills as illustrated in the figure above. Those are the top jobs and skills that every country would need by 2025, according to the World Economic Forum. With skills and passions in business already in hand, Heezrad and Izzati quickly shifted their travel agency into a new business line by selling chicken. ..continue in the next page Disclaimer: The views and opinions expressed in this report are those of the authors and do not necessarily reflect the official views of the Office of Employment Insurance System, Social Security Organisation. All materials, images and content on this report may not be reproduced, transmitted, or distributed in any format, without the prior written permission from the Office of Employment Insurance System (EIS) and the CChief Economist of EIs-UPMCS Centre for Future Labour Market Studies (EU-ERA). EIS-UPMCS CENTRE FOR FUTURE LABOUR MARKET STUDIES THE LABOUR | 1
Transcribed Image Text:The Labour EU.. ERA SEIS A monthly bulletin of EU- our rescarch activities and publications Vol 2. No. 2 FEBRUARY 2021 HIGHLIGHT OF THE MONTH Does digitalisation drive labour market transformation? Heizlyn Amyneina Hamzah and Henny Abigailwillyen Sinjus wwwww Top 5 Jobs 1 Data Analysts and Scientists 2 Al and Machine Learning Specialists Top 5 Skills 1 Analytical Thinking and Innovation 2 Active Learning and Learning Strategies 3 Complex Problem-Solving 3 Big Data Specialists 4 Digital Marketing and Strategy Specialists 4 Critical Thinking and Analysis 5 Process Automation Specialists 5 Creativity, Originality and Initiative See fure of Sey 2AUE faam la INTERESTING INSIGHTS: Quick adaptability is essential for businesses to stay resilient and afloat during this pandemic time. COVID-19 has proven the need to adapt and utilise technology in every sector, at a rapid pace. Also, as the pandemic hits, a lot of sectors have shifted to digital means. Coping Labour Market with Digital Transformation Whilst the digitalisation adoptions are not a sole action made by the businesses, the Malaysian government plays a pivotal role to digitalise the whole nation's economy as well. Digital transformation will trigger structural changes in the labour market. The Labour Market Bathtub Recently, MyDIGITAL or the Malaysia Digital Economy Blueprint has been launched to accelerate the country's digital economy development and elevate all citizens quality of life. It serves as a digital transformation plan that empowers the business sector, developing human capital and equipping society to thrive Malaysia into a regional leader in the digital economy. One can think of total employment in the economy as the water level in the bathtub, which is determined by the inflow (labour force entry) and outflow of water (labour force exit). Poultry-luck of a travel agency business MYDIGITAL is expected to drive future demand on new job roles and sets of skills as illustrated in the figure above. Those are the top jobs and skills that every country would need by 2025, according to the World Economic Forum. With skills and passions in business already in hand, Heezrad and Izzati quickly shifted their travel agency into a new business line by selling chicken. ..continue in the next page Disclaimer: The views and opinions expressed in this report are those of the authors and do not necessarily reflect the official views of the Office of Employment Insurance System, Social Security Organisation. All materials, images and content on this report may not be reproduced, transmitted, or distributed in any format, without the prior written permission from the Office of Employment Insurance System (EIS) and the CChief Economist of EIs-UPMCS Centre for Future Labour Market Studies (EU-ERA). EIS-UPMCS CENTRE FOR FUTURE LABOUR MARKET STUDIES THE LABOUR | 1
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