What is the Information age?

The information industry is able to allow individuals to explore their personalized needs, therefore, simplifying the procedure of making decisions for transactions and significantly lowering costs for both the producers and buyers. This is accepted overwhelmingly by participants throughout their entire economic activities for efficacy purposes, and new economic incentives would then be encouraged. This evolution of technology in daily life and social organization has led to the fact that the modernization of information and communication processes has become the driving force of social evolution. The information age has affected the workforce in several ways. It has created a situation in which workers who perform easily automated tasks are forced to find work that is not easily automated. Workers are also being forced to compete in a global job market. Lastly, workers are being replaced by computers that can do their jobs faster and more effectively.

This poses problems for workers and industrial societies, which are still to be solved. Jobs traditionally associated with the middle-class assembly line workers, data processors, foreman, and supervisors are beginning to disappear either through outsourcing or automation, individuals who lose their jobs must either up-skill, becoming, engineers, doctors, attorneys, teachers, scientists, professors, executives, journalists, consultants, or settle for low skill, low wage service jobs. The professions are able to compete successfully in the world market and receive high wages. Conversely, production workers, service workers and industrialized nations are unable to compete with workers in developing countries and either lose their jobs through outsourcing or are forced to accept wage cuts. In addition, the internet makes it possible for workers in developing countries to provide in-person services and compete directly with their counterparts and other nations.

These changes have had several major consequences, including increased opportunity in developing countries and the globalization of the workforce. The full impact on the workforce in developing countries is complex and has downsides, the economic fate of workers was tied to the fate of national economies. For example, workers in the UK were once well-paid in comparison to the workers in other countries. This is no longer the case because workers are forced to compete in a global job market and wages are less dependent on the success or failure of individual economies. The automation and computerization of our global economy has resulted in higher productivity coupled with net job loss in Developed countries. For example, from January 1972 to August 2010, the number of people employed in manufacturing jobs fell from 17,500,000 to 11,500,000 while manufacturing value rose 270%. Although it initially appeared that job loss in the industrial sector might be partially offset by the rapid growth of jobs in the computer sector, the recession of March 2001, foreshadowed a sharp drop in the number of jobs in the computer sector. Data has shown that overall technology creates more jobs than it destroys. Even in the short run.