{"id":10852,"date":"2022-08-08T02:45:00","date_gmt":"2022-08-08T02:45:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3838395_AE38395_0"},"modified":"2022-08-08T02:45:00","modified_gmt":"2022-08-08T02:45:00","slug":"forresters-future-of-jobs-forecast-63-million-jobs-in-apac-will-be-lost-to-automation-by-2040","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=10852","title":{"rendered":"Forrester&#8217;s Future Of Jobs Forecast: 63 Million Jobs In APAC Will Be Lost To Automation By 2040"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/602410\/forrester_CMYK_logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>A declining working population and rising costs to hire and retain employees will force firms in <span class=\"xn-location\">Asia Pacific<\/span> to invest more in automation<\/i><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Aug. 8, 2022<\/span><\/span> \/PRNewswire\/ &#8212; <u><a href=\"https:\/\/www.forrester.com\/?utm_source=pressrelease&amp;utm_medium=pr&amp;utm_campaign=cio21_eu\" target=\"_blank\" rel=\"nofollow noopener\">Forrester<\/a><\/u>&nbsp;(Nasdaq: FORR) forecasts that working populations in the five largest economies in <span class=\"xn-location\">Asia Pacific<\/span> \u2014 <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">South Korea<\/span>, <span class=\"xn-location\">Australia<\/span>, and <span class=\"xn-location\">Japan<\/span> \u2014 are more at risk due to physical robot automation than <span class=\"xn-location\">Europe<\/span> and <span class=\"xn-location\">North America<\/span>. By 2040, 63 million jobs are expected to be lost to automation, with more than 247 million jobs expected to be in jeopardy across industries that are more susceptible to automation, such as construction and agriculture.<\/p>\n<p>According to Forrester&#8217;s <a href=\"https:\/\/www.forrester.com\/go?objectid=res177789\" target=\"_blank\" rel=\"nofollow noopener\">Future Of Jobs Forecast, 2020 To 2040 (<span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">South Korea<\/span>, <span class=\"xn-location\">Australia<\/span>, And Japan)<\/a>, in the coming years, the green economy will help offset some job losses as more countries commit to carbon neutrality. <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">South Korea<\/span>, <span class=\"xn-location\">Australia<\/span>, and <span class=\"xn-location\">Japan<\/span> will create 28.5 million new jobs in renewable energy, green buildings, smart cities and smart infrastructure, and professional services by 2040. But even with the creation of new jobs in areas such as the green economy and information and communications technology (ICT) industries, 13.7 million jobs in the region will be lost to automation across wholesale, retail, transport, accommodation, and leisure sectors.<\/p>\n<p>Each country faces different challenges. Key highlights include:<\/p>\n<ul type=\"disc\">\n<li><b><span class=\"xn-location\">Australia<\/span>.<\/b>&nbsp;Similar to the US, <span class=\"xn-location\">Australia&#8217;s<\/span> high GDP per worker incentivises firms to automate jobs to improve productivity and reduce labor costs. <span class=\"xn-location\">Australia<\/span> will see 11% of jobs lost to automation by 2040. Jobs across consulting, scientific, and technical services, which are harder to automate, will see the fastest growth, especially in the ICT industry.<\/li>\n<li><b><span class=\"xn-location\">China<\/span>.<\/b>&nbsp;By 2040, <span class=\"xn-location\">China<\/span> will see its working population decline by 11%, and 7% of jobs will be lost to automation. Job growth in the ICT industry will help offset automation job losses, with 3.8 million additional new jobs created by 2040.<\/li>\n<li><b><span class=\"xn-location\">India<\/span>.<\/b>&nbsp;India, which has a relatively young workforce, will add 160 million new workers over the next 20 years, reaching a working population of 1.1 billion by 2040. Although 69% of <span class=\"xn-location\">India&#8217;s<\/span> jobs are under threat from automation, the country&#8217;s main priority will be job creation to accommodate new workers entering the workforce.<\/li>\n<li><b><span class=\"xn-location\">Japan<\/span>.<\/b>&nbsp;Due to an ageing workforce and the country&#8217;s low birth rate, between 2020 and 2040, <span class=\"xn-location\">Japan&#8217;s<\/span> working population will contract by 19%. By 2050, it is forecasted to decline by almost one-third.<\/li>\n<li><b><span class=\"xn-location\">South Korea<\/span>.<\/b>&nbsp;Driven by its aging working population and its dependency on the construction and agriculture industries, which are more susceptible to automation, <span class=\"xn-location\">South Korea&#8217;s<\/span> workforce will contract by 23% over the next 20 years.<\/li>\n<\/ul>\n<p>&#8220;To prepare for the changes brought on by automation, the five largest economies in APAC will have to radically rethink their workforce strategies,&#8221; said <span class=\"xn-person\">Michael O&#8217;Grady<\/span>, principal forecast analyst at Forrester. &#8220;While each economy faces its own challenges, common focus areas such as hiring more female workers can help offset working population declines. In addition, investing in STEM education, technology workforce training, and protecting the rights of freelance workers will become of utmost importance.&#8221;<\/p>\n<p><b>Resources:<\/b><\/p>\n<ul type=\"disc\">\n<li><a href=\"https:\/\/www.forrester.com\/blogs\/future-of-jobs-forecast-automation-apac\" target=\"_blank\" rel=\"nofollow noopener\">Learn<\/a>&nbsp;more about the future of jobs in <span class=\"xn-location\">Asia Pacific<\/span>.<\/li>\n<li><a href=\"https:\/\/www.forrester.com\/go?objectid=res177789\" target=\"_blank\" rel=\"nofollow noopener\">Download<\/a>&nbsp;the Future Of Jobs Forecast, 2020 To 2040 (<span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">South Korea<\/span>, <span class=\"xn-location\">Australia<\/span>, And Japan) report (client access required).<\/li>\n<li><a href=\"https:\/\/go.forrester.com\/the-executives-guide-to-the-future-of-work-apac\/\" target=\"_blank\" rel=\"nofollow noopener\">Visit<\/a>&nbsp;here to learn more about the forces shaping the future of work.<\/li>\n<\/ul>\n<p><b>About Forrester<\/b><\/p>\n<p>Forrester is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester&#8217;s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work \u2014 to navigate change and put their customers at the centre of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave\u2122 evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A declining working population and rising costs to hire and retain employees will force firms in Asia Pacific to invest more in automation SINGAPORE, Aug. 8, 2022 \/PRNewswire\/ &#8212; Forrester&nbsp;(Nasdaq: FORR) forecasts that working populations in the five largest economies in Asia Pacific \u2014 India, China, South Korea, Australia, and Japan \u2014 are more at [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-10852","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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