As the election’s minis and manifestos begin to trickle in (and very slowly), it is no surprise to see the usual references to diversification (as ever), job creation, and opportunities for all.
Even the often-forgotten education gets a look in there and then, but more details on the fundamental reforms needed to implement the pledges and the impact the proposals will have on the State’s budget, so far, have been even less forthcoming.
But at least the parties are beginning to talk about the economic future of Trinidad and Tobago and what may be needed to walk the path they are suggesting. A complete rethink of what skills we need would be a good start.
Earlier this year, the World Economic Forum published the latest version of its biannual Future of Jobs report.
It won’t come as a surprise that one of their main headlines is the impact technology is having (and will continue to have) in the jobs market, especially as generative AI takes off across all sectors of the economy.
According to the forum, most of the 15 jobs that will see growth over the next five years are directly connected with the digital world, with Big Data specialists topping the list, followed by FinTech engineers and AI/machine learning specialists.
The list does carry some more traditional ones, like drivers for small trucks and delivery vans (a direct consequence of the online retail boom), and green economy-related professions such as environmental engineers and renewable energy specialists.
And, as the digital transformation takes hold, other roles are facing decline.
The forum lists a few of them, from post office workers (as the volume of letters continues to drop) to bank clerks (as banking moves to apps instead of buildings), retail employees and pretty much any other role that can be automated or simplified by technology, from executive assistants to graphic designers.
This doesn’t mean these jobs will disappear altogether, but there might not be as many of them in the near future as more elements of their work are automated, even for some IT-related jobs, as AI can already code computer programmes, reducing the number of coders required.
This also doesn’t mean that, at least for the time being, there will be fewer jobs available, leading to increased unemployment.
If anything, the digital revolution currently needs more, not fewer, people to ensure it happens, and the World Economic Forum’s own projections are that job creation will actually be positive between now and 2030 (well, at least it was; the report was published before President Donald Trump unleashed an import tariff policy that increased the risks of a global recession).
The real challenge is how employers can bridge the gap between the demand for IT-related jobs and those currently in the labour market.
In other words–there might be jobs aplenty, but the risk is that those in need of them won’t have the skills to do what is on offer.
We don’t even need a global survey to tell us that. Speak to employers in T&T, and they will talk about the challenges of filling certain roles, even with higher wages or enhanced terms and conditions, as the competition for skilled labour can be fierce.
Conversely, we also have plenty of anecdotal evidence of cases of good and committed workers struggling to stick to a job due to a mismatch between their skills and what the roles need, especially as new technologies and workflows are introduced.
Good employers already do their bit by providing on-the-job training and development, but that may not be enough, especially as, sometimes, the knowledge gap is a lot wider.
Take the green economy, for instance.
Assuming electric cars are here to stay, we may need a much higher number of specialists in electricals and batteries than the current jobs market can provide.
Some may come through the upskilling of those already employed in the automotive sector, at least for electric cars, as some of the mechanical elements remain the same. However, considerable upskilling would still be needed, as the understanding and fixing of an electric motor is very different from the knowledge required to deal with combustion engines.
But the demands for green jobs go beyond that.
As things stand, we definitely don’t have enough solar or wind power engineers and fitters to help boost the take-up of renewable energy for domestic and industrial consumption. The field will be even more limited for the more cutting-edge side of the green energy world, such as the development of green hydrogen for heavy, energy-hungry industries.
The big risk is that, just like with the decades-old talk of diversification with very little to show for it, we will end up talking the talk of education reform and upskilling without delivering little or nothing.
And, to make things worse, the little skilled labour pool we have can be easily lost if conditions here are not attractive enough. And this is not just about pay (as employers tend to respond to market demands) but conditions in general, including the limitations our current labour laws put on an individual’s career development or the ability to work more flexibly.
As the shortage of critical skilled labour, especially in IT, is global, employers elsewhere may be able to lure our talent to other shores, not only because pay may be better but because of their ability to provide more tailored work-life balance contractual terms and perks.
A mismatch between the jobs available and those looking for work is nothing new–that is one of many reasons why unemployment is never zero, irrespective of whether the economy is booming or not.
What makes the current situation different is that this mismatch can easily become monumental and probably as traumatic as when the Industrial Revolution suddenly turned agricultural societies into factory- and city-based ones, leaving many behind along the way.
We must be ready to make this work for us.
