Julianna Csugány – Eszterházy Károly University, Faculty of Economics and Social Sciences, Institute of Economics, HU-
3300 Eger, Egészségház u. 4.
DOI: https://doi.org/10.31410/EMAN.S.P.2020.55
4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, September 3, 2020, SELECTED PAPERS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-31-8, ISSN 2683-4510
Abstract:
In the era of the Fourth Industrial Revolution, technological change is also transforming the
labour market. Technological and structural unemployment is simultaneously present in the economy,
as well as the labour shortage causes many problems for the firms. The labour market has to respond to
both demographic and technological change, while workers’ expectations and workers’ preferences are
transformed in the digital era. The biggest fear in the new technological era is related to robots, which
generate the loss of jobs because they can substitute human resources in an efficient way. Technological
changes typically threaten lower-skilled workers doing routine tasks, while the need for a high-skilled
workforce combined with creativity is increasing. This asymmetry of training already appeared in the
earlier industrial revolution, but nowadays digital literacy, as well as the technological knowledge
necessary for the operation of machines and equipment, are becoming a basic skill, so new competence
requirements are formulated for the employees. In the era of the Fourth Industrial Revolution, not only
robots cause problems in the global labour market, but also international trends that cause major
transformation in both the supply and demand side of the labour market. Effective labour market adaptation
to technological change can be the key to competitiveness in the new technological era. This
research aims to provide a short analysis of the differences in the European labour market in the era of
the Fourth Industrial Revolution. The labour demand and supply will be analysed in order to highlight
the main tendencies related to the qualitative features of labour market in the new technological era.
Keywords:
The Fourth Industrial Revolution; Skill-biased technological change; European labour
market; Qualitative features of labour market, Skills.
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