Job polarization and future of jobs in India

Abstract

World Economic Forum report on future jobs have brought in wave of questions and expectations about the future job market. Even though technological upgradation is not new to the economy, the pace at which current changes are happening is extreme. Its high time that economies must rethink about theoretical occupational classification and make way to coming changes. Current job market must be reskilled and upskilled to attain the benefits of this change. Job polarization is a not a new term to many countries, developed countries have already gone through job polarization and wage inequality. The wages per hour for high and low skilled are much more than middle skilled in developed countries. India has already felt the impact of job polarization, but the percentage of impact is much less than other developed countries. This paper explains the impact of job polarization in India and why India will be one among those countries most effected by job polarization. Since India’s job market is more concentrated on middle skilled employees, with future jobs accelerating its presence in India, it’s time to reskill and upskill the existing middle skilled job force to reap its benefits fully.