Automation and Its Impact on Employment - Essay Example

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Automation and Its Impact on Employment

The essay "Automation and Its Impact on Employment" talks about the technology development which entered all the industry sectors after the industrial revolution that began in 18th century brought the drastic changes in the world. It resulted in economic growth of many countries within a few years. All the countries that utilised the development in industrial sector achieved good results. The technology development entered all the sectors like steel , automobile sector, shipping, textiles, and electrical sectors. This created millions of new jobs. Simultaneously advanced technology resulted in retrenchment of the old employees. Between 1966 and 1978 the newly introduced electronic typesetting equipment swallowed around 4200 type setters in New York but created new job opportunities for the people who can operate the new type setting equipment. In 1920s American railway employed more than 2, 00,000 people and the number was reduced to only for 40 thousands because of advanced technology. Between 1947 and 1957 there were 10 thousands of workers in oil refineries of America. After 1957 though the production was increased the number of workers was reduced by three percent. However, there is a simultaneous increase in job opportunities for the people who can work with the advanced technology. In automobile division, robots replaced man power, but the people who could operate the robots could retain their jobs. Electronic mails, E-banking and computerization definitely cause the reduction of jobs. ...Show more

Summary

This essay talks about the technology development which entered all the industry sectors after the industrial revolution that began in 18th century brought the drastic changes in the world. It resulted in economic growth of many countries within a few years…
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