The coming skills drought
The Economist devotes 15 pages to the coming battle for talented employees. Many firms have gone as far as they can with automation and streamlining, so further improvements in productivity have to come on the human side, meaning their ability to recruit and keep bright, talented staff. While manual workers are increasingly replaced by automation, knowledge workers who can manage people and resources creatively and profitably will be increasingly in demand. As the workforce ages and jobs become more complex, competition for the best individuals will heat up.
You might be reading this as a young adult, considering how you will be earning money in the first half of the 21st Century. You might conclude that it is important to develop and prove your own abilities with a degree, especially in a course that involves numeracy and problem-solving. Far be it from WhyStudyEconomics to suggest a subject…
Further reading: “The battle for brainpower”, The Economist, 7th October 2006
Further reading: Frequently Asked Questions about studying Economics