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For many American workers, technological advancement will mean the end of their jobs.
A recent report by the National Bureau of Economic Research estimates that hundreds of thousands of employees have been replaced by technology or robotics in the past 20 years. And an Oxford University study says 47% of American jobs could be at risk due to computerization over the next 20.
This "fourth industrial revolution" is already changing labor markets, according to a report by the World Economic Forum, The Future of Jobs. Developments in artificial intelligence, robotics, nanotech and more are changing the skills workers need to keep up in an ever-evolving employment landscape. They say “skills instability," or the rapid change in skill requirements, will affect 29% of workers in the U.S. by 2020, from front-line staffers through upper management.
For displaced workers, the need to participate in lifelong learning is a must to remain employable. But because this won't always appear as a certification or degree on a resume, this may mean a major shift in hiring practices.
To address these changes, the Markle Foundation recently announced The Rework America Task Force. Their mission: bring together industry leaders to modernize the U.S. labor market and create opportunities for job seekers, employees and businesses.
The task force builds on the success of the Foundation’s Skillful Initiative in Colorado. Rework America seeks to use the same technology that’s disrupting the labor market to enhance it. By redesigning the way employees are screened and hired, the program seeks to re-employ displaced workers and enhance employment for those who are underemployed.