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Technology
New technology creates change, particularly in the types and number of jobs needed to proliferate related products and services. Almost all industries have overhauled their operations and altered their organization structures in order to adopt new technologies as a competitive strategy. These changes disrupted the demand side of the labor market and have made many employees' skills obsolete.
Here's an example:
When the semiconductor first started being used instead of the transistor, a group of engineers graduated from college having taken courses in semiconductors. They were instantly more valuable than the engineers who had not taken such courses only a few years earlier. To continue to be employable, the older engineers had to re-tool with courses in semiconductors to compete in the labor market.
As a result, there has been widespread change in the nature of jobs at all organizational levels. Paraprofessional, semi-skilled, and clerical work has changed with technological advancements resulting in increased productivity from more efficient processes.
Memory Jogger
Accelerated technology advancements have resulted in: