What is Theory of Employment and Unemployment

By 2025, up to 85 million jobs globally could be displaced due to automation and new technologies. The traditional approach of relying solely on human resources to address unemployment is no longer effective. A concern is the narrow-minded focus aligning internal organizational objectives with human resource practices. As technology rapidly advances, industries must adapt to new tools and approaches, including automation, artificial intelligence, and cybersecurity. Human factors must be understood and incorporated. These changes are creating new job opportunities while also replacing some jobs. This text highlights the urgent need to provide support, education, and retraining programs for the discouraged workforce, who are at a higher risk of displacement due to lack of skills and education. Failure to address this issue could have a detrimental effect on the economy and burden social welfare programs. This text emphasizes the importance of research at the intersection of discouraged workers, technology, and change.