<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Labour market economics works on the principle of a neoclassical approach. Competitive forces, corporate policy, collective bargaining, and state intervention create the reality of the market. Technological progress in advanced technology, robotics, and artificial intelligence is strengthening the economies of several countries. The article deals with the actual influence of digital technologies on the neoclassical paradigm of the labour market and the impacts on the tasks and requirements for the competencies of workers and the level of their qualifications. Research is based on secondary data from relevant sources with emphasis on the quality using the interface Primo database, enabling the search for data in full-fledged databases (Web of Science, ProQuest, etc.). The real minimum wage, employment rate and jobs at risk of automation were analysed to compare the situation in European countries. The main objective is to analyse the magnitude of the impact of digital technologies on the labour market. The results point to technological progress, especially automation, which eliminates job positions by substituting low-skilled workers with machine learning robots. Government can ensure more balanced inclusive growth in the area of education. The change in the concept of teaching leads to higher qualifications and skills for future employees.</p>
</abstract>

Labour market economics works on the principle of a neoclassical approach. Competitive forces, corporate policy, collective bargaining, and state intervention create the reality of the market. Technological progress in advanced technology, robotics, and artificial intelligence is strengthening the economies of several countries. The article deals with the actual influence of digital technologies on the neoclassical paradigm of the labour market and the impacts on the tasks and requirements for the competencies of workers and the level of their qualifications. Research is based on secondary data from relevant sources with emphasis on the quality using the interface Primo database, enabling the search for data in full-fledged databases (Web of Science, ProQuest, etc.). The real minimum wage, employment rate and jobs at risk of automation were analysed to compare the situation in European countries. The main objective is to analyse the magnitude of the impact of digital technologies on the labour market. The results point to technological progress, especially automation, which eliminates job positions by substituting low-skilled workers with machine learning robots. Government can ensure more balanced inclusive growth in the area of education. The change in the concept of teaching leads to higher qualifications and skills for future employees.

The Impact of Digital Technologies on Neoclassical Labour Market

DANUBE

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"The Impact of Digital Technologies on Neoclassical Labour Market"}

Labour market economics works on the principle of a neoclassical approach. Competitive forces, corporate policy, collective bargaining, and state intervention...

The Impact of Digital Technologies on Neoclassical Labour Market

Published Online: Jan 14, 2023

Page range: 318 - 330

DOI: https://doi.org/10.2478/danb-2022-0020

Keywords
Neoclassical Economics, Labour Market, Digitalization, Digital Technologies

© 2022 Kateřina Petrová, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

The Impact of Digital Technologies on Neoclassical Labour Market

Published Online: Jan 14, 2023

Page range: 318 - 330

DOI: https://doi.org/10.2478/danb-2022-0020

KeywordsNeoclassical Economics, Labour Market, Digitalization, Digital Technologies

© 2022 Kateřina Petrová, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Neoclassical Economics, Labour Market, Digitalization, Digital Technologies