The US labor market is currently strong

The US labor market is currently strong. Unemployment has reached record lows, and by November the economy has added 1.9 million new jobs. Against this background, the labor market is undergoing major changes that reduce the demand for some jobs and increase the demand for new skills.

The main risks for workers not only in the US, but also in other countries of the world, are artificial intelligence and robotics. Already today, about 6% of Americans lost their jobs or part of the salary due to robots, as previously wrote. In the future, this trend will intensify.

Thus, one of the main trends in the labor market is the reduction of offers in areas with a high degree of use of artificial intelligence and robots. In 2017 this was clearly demonstrated by the catering industry, where the order can now be made through special kiosks and mobile applications. Active work in this direction was carried out, for example, the network of coffee houses Starbucks Corporation (SBUX, NASDAQ) and the network of fast food establishments McDonald’s Corp. (MCD, NYSE). Leading American Internet retailer Inc. (AMZN, NASDAQ) continues to expand the network of warehouses with robots-packers and robots-loaders.

In the next few years, taxi drivers and truck drivers will be at risk – they can also be replaced by robots.

At the same time, we can expect the growth of proposals in the field of health care and care for people. An increase in the number of people, an increase in life expectancy – these factors will require a new approach to health care. Currently, in this industry, most workers can not be replaced by robots because of economic inexpediency. Therefore, in the coming years, the demand for medical workers and workers in the field of care will increase.

Note that high employment in the US market in recent quarters has led to high demand for highly skilled workers. So, at present, about 6 million vacancies have been opened in the country, many of them in the technology sector, in healthcare, e-commerce, etc.

Most likely, there will be a growing demand for technical specialists outside the technological sector. Using advanced software and robotic equipment in different sectors of the economy will make technical personnel extremely demanded in financial and consulting spheres, retail, industrial production, etc.

Changes will also occur in the area of ‚Äč‚Äčinteraction between employers and job seekers. The use of systems with elements of artificial intelligence improves the selection of specialists, and applicants will be able to monitor the reaction to their resume in real time.
The growth of wages, despite the high demand for skilled workers, will be insignificant. Therefore, employers are increasingly using other ways to encourage and retain employees. One way is to create more comfortable jobs and a specific work environment with unique tasks, which reduces the risk of a worker leaving for another company.

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