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The Impact Of The Fourth Industrial Revolution On Employment

Author

Listed:
  • Alina Ligia Dumitrescu
  • Petre Prisecaru

Abstract

The purpose of this article is to assess the advantages and disadvantages of the Fourth Industrial Revolution in order to identify the best ways to turn this 21st-century challenge into an opportunity for creating new and higher-paying jobs and increasing employment in the European Union (EU). The research relies on the literature related to the Fourth Industrial Revolution and the reports and data provided by theWorld Economic Forum, in particular, and is based on the comparative analysis of Eurostat data from the perspective of European integration and diminishing disparities among the Member States. According to the authors' findings, the Fourth Industrial Revolution has a major impact on the evolution of labour markets in the EU Member States, leading to the emergence of the new "jobs of the future", which can only be occupied through strengthening and extending the digital skills of the current workforce under the expansion of robotization and artificial intelligence.

Suggested Citation

  • Alina Ligia Dumitrescu & Petre Prisecaru, 2020. "The Impact Of The Fourth Industrial Revolution On Employment," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 12(1), pages 3-15.
    • Handle: RePEc:iem:journl:v:12:y:2020:i:1:p:3-15
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    File URL: http://iem.ro/rem/index.php/REM/article/view/747/830
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    More about this item

    Keywords

    The Fourth Industrial Revolution; EU; employment; impact;
    All these keywords.

    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J82 - Labor and Demographic Economics - - Labor Standards - - - Labor Force Composition
    • J88 - Labor and Demographic Economics - - Labor Standards - - - Public Policy

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