Abstract
Demographic transitions and technological advancements may lead to a net loss of 5 million jobs by 2020; hence, about forty percent (1.4 billion) of the global workforce are vulnerable to unemployment. This is because a more significant percentage of tasks that are already being disrupted by automation are repetitive and standardized processes. At the same time, actions/jobs which require empathy, genuine creativity, and critical thinking will be in high demand in the new workforce, thereby achieving a human-machine collaboration. Thus, this study seeks to investigate the influence that technology has on employment in the Nigerian labor market and how Access to electricity and employment are connected using Nigeria as a case study. The unit root test was conducted via Phillip-Perron (PP) statistics and Augmented Dickey-Fuller (ADF) tests. The Auto-Regressive Distributed Lag (ARDL) model was also employed to evaluate the relationship between technology and employment in Nigeria using World Bank data (1960-2017). Results showed that technology and globalization have a long-run statistically significant inverse relationship with employment in Nigeria, which conforms to theory. Policy recommendations promote the acquisition of such skills encompassing critical thinking, empathy, and creativity to enable a better future for the Nigerian labor force.Keywords: Employment; Labor; Technology; Globalization; Nigeria.JEL Classifications: O14, E24, J21DOI: https://doi.org/10.32479/ijeep.10231
Highlights
Technological progress means that less work is needed to produce a unit of output
Unit Root Test Unit root test is executed via Augmented Dickey-Fuller (ADF) and PP test statistics for to verify that no I(2) variables existed, since this would invalidate boundary test results (following the conditionality of co-integrated or mixed I(0) and I(1) dataset
The study carried out an ex-ante analysis to make an ex-post prediction by investigating long run relationship between employment and technology
Summary
Technological progress means that less work is needed to produce a unit of output. There are conflicting views and expectations about the outcome of increasing automation in the workplace. Information technology development is an indivisible section of societal progression, which follows swift evolutions occurring in advanced and developing nations (Onasanya et al, 2010). According to the Information Technology Association of America (ITAA), Information Technology (IT) is elucidated as a collection of thought-ware, software, and hardware utilized in processing improved usage. It combines software industries, business appliances, data processing equipment, alongside associated transmission soft-and-hardware amenities
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