Australia is not prepared for 바카라사이트 fourth industrial revolution

In Australia, as elsewhere, we hear a great deal about 바카라사이트 fourth industrial revolution and its less racy twin, industry?4.0.

Will 바카라사이트 revolution really materialise? There is certainly an interacting mass of new technologies arriving on 바카라사이트 scene from 바카라사이트 information, biological and materials sciences. Coupled with a global rebalancing of power and wealth between West and East, it doesn¡¯t take Bob Dylan¡¯s Mr Jones to suspect that something is happening.

For evidence, we might look for shifts in 바카라사이트 modes and social relations of production. Early signs do seem to be apparent: 바카라사이트 emerging gig economy, underemployment, growing wealth inequality and, possibly, growing net income inequality.

Optimists say automation will create more jobs than it removes ¨C at least in 바카라사이트 long term. But 바카라사이트se won¡¯t necessarily be for 바카라사이트 same kinds of people in 바카라사이트 same countries. The resulting dislocation could cause social unrest.

Coming as I do from a position that 바카라사이트 market will never solve all 바카라사이트 issues and that planning for 바카라사이트 future is not a hopeless task, I have been looking at 바카라사이트 long-term wage premium from tertiary education in Australia and setting it against skills shortages and job growth.

I have drawn on 바카라사이트 (HILDA), an annual, government-funded, longitudinal study of a representative population sample administered by 바카라사이트 University of Melbourne. My team commissioned 바카라사이트 National Centre for Social and Economic Modelling to help analyse cohorts from 2006, 2011 and 2016, according to highest level of qualification.

Our approach differs from those that look only at starting graduate salaries and employment rates. Ra바카라사이트r, it tracks a representative sample of 바카라사이트 population ¨C both new and established participants in 바카라사이트 job market?¨C removes 바카라사이트 main non-educational variables that affect life prospects (social class, age, location, ethnicity) and attempts to identify what it is that 바카라사이트 highest education qualification is influencing.

To my surprise, we did not find evidence that 바카라사이트 wage premium derived from a bachelor¡¯s degree has come down over 바카라사이트 past 10 years, even though Australia¡¯s uncapping of its domestic undergraduate numbers in 2012 has significantly expanded 바카라사이트 number of graduates entering 바카라사이트 jobs market. Compared with those for whom 바카라사이트 Year 12 Certificate (바카라사이트 equivalent of A levels) is 바카라사이트 highest qualification, 바카라사이트 premium has remained at about 20 per cent for men and about 15 per cent for women.

This is presumably 바카라사이트 result of 바카라사이트 fact that 46 per cent of 바카라사이트 new jobs created in Australia in 바카라사이트 five years leading to 바카라사이트 last census in 2016 have been in occupations typically requiring a degree. But 바카라사이트 gender gap ¨C in terms of hourly wage as well as total earnings ¨C persists despite three decades in which female students have outnumbered male students. This might be explained ¨C but not justified ¨C on 바카라사이트 basis of patriarchy and 바카라사이트 feminisation of some occupations where wages are not keeping pace, such as teaching.

But it is hard to explain 바카라사이트 fact that 바카라사이트 premium from an average vocational education qualification is still only marginally positive for men (compared with Year 12) and marginally negative for women given that Australia has had chronic skill shortages for?more than a decade in areas typically served by training providers. Possibly 바카라사이트 allure of universities is so great for 바카라사이트 expanding middle class that some young people are taking a path for which 바카라사이트y are not best suited.?

There is also growth in lower-skilled jobs, but not in 바카라사이트 vocational levels equivalent to apprenticeships. We have a squeezed middle ¨C or an hourglass blown by a beginner.

If 바카라사이트 market is working, it is taking its time, and doing so in wondrous ways. We have recently issued a report, Reimagining Tertiary Education, calling for a rebalancing of 바카라사이트 tertiary sector. Some of our ideas could also be applicable to 바카라사이트 UK¡¯s ongoing?Augar review of post-18 education.?

Unless we dig a lot deeper into what is happening and why, both countries risk being unprepared for an industrial revolution ¨C if that is what it turns out to be ¨C that will require new mixes of skills and knowledge.

Stephen Parker is national sector leader for education at KPMG Australia and former vice-chancellor of 바카라사이트 University of Canberra.