What will employment look like in 2050?
The Adam Smith Institute recently published a new report The UK and the World in 2050, according to their President Dr Madsen Pirie, there will be some interesting developments in employment by 2050.
1. Careers
There will be many new careers available in 2050 – Extinct Biologists, recreating the Dodo and Woolly Mammoths to house in nature reserve tourist attractions. We could see the end of mass production as products become easier to produce through 3D Printers; making everything from extra limbs, to shoes, to home assembly kits. Tech advancements will always replace jobs, but through streamlining processes and increasing wealth, more jobs will always be created.
2. Commuting
The advent of driverless cars with incorporated offices and rest space will see people more willing to take longer commutes. As people are not bound by location they could be opening themselves up to more opportunities. This will also increase the hospitality trade in town centres, with more people staying to socialise after work without having to worry about how to get home.
3. Retirement
With the UK unable to support an ageing population, people can no longer rely on a state pension to support them in later life. As a result retirement as we know it will disappear, people will be working fewer hours but they will be less likely to stop altogether. With people living longer, some could expect to live an extra 20 years after traditional retirement age.
4. Self-Employment
The notion of jobs for life will be gone, with people preferring to work on a serious of contracts to gain more flexibility and a better work / life balance. With no big pensions or real retirement provision from companies, there will be less reason to stay with the same company for years.
We can see the beginnings of these predictions for 2050 happening today – 46% of people want to work flexibly, 39% of over 50s not currently retired said that working PT or flexible hours before stopping work all together was the best way to retire. If you want to work flexibly you dont need to wait for 2050, we have many contract positions available today.
Sources:
http://www.adamsmith.org/wp-content/uploads/2016/02/Madsen-Pirie-2050-ONLINE.pdf
http://timewise.co.uk/wp-content/uploads/2015/05/Timewise_Flexible_Jobs_Index.pdf
