China News Service, March 25. The 2024 Annual Meeting of the China Development Forum will be held on March 24-25, 2024. On the morning of March 24, the "Seminar on the Dynamics and Prospects of China's Sustainable Development" was held. Christopher Pissarides, winner of the Nobel Prize in Economics, said in the second half of his speech: With the acceleration of new urbanization and industrial technological innovation, many workers need to be re-employed in the service industry, and there is huge employment space in China’s service industry. To be further expanded.
Christopher Pissarides analyzes the impact of technological development on employment and the expansion of employment in the service industry. Pissarides believes that the development of new technologies will not reduce employment, but will bring more transformation, such as workers moving to new fields and recruiters having new requirements. This is mainly because new technologies and new investments have brought about structural changes in the economy. Technological development and international trade have increased productivity, allowing more labor to enter the service industry. People's consumption of manufacturing products is limited, but their consumption of services is unlimited. Therefore, the employment space in the service industry is vast, which requires the development of service industry infrastructure, rapid response to technological development, and creation of new jobs.
Christopher Pissarides proposed that to develop the service industry, it is also necessary to tap new consumer demands, improve domestic service supply, and promote service consumption. For example, it is necessary to stimulate domestic demand in tourism, catering, medical beauty and other fields and create employment in the service field. In addition, it is necessary to attract more labor from other industries, especially the manufacturing field, to enter the service industry to further increase employment. Specifically in China, with the acceleration of new urbanization and industrial technological innovation, many workers need to be re-employed in the service industry, and the employment space in China's service industry needs to be further expanded.
In terms of improving labor force skills, Christopher Pissarides said that the transformation of the modern service industry is bound to apply artificial intelligence technology, which requires the skill upgrading of the labor force, especially low-skilled industrial and agricultural labor. According to his team's research, the demand for IT-related skills is growing fastest in the modern service industry, especially data processing and analysis. In addition, traditional skills such as communication skills, management skills, customer service skills, self-confidence, problem-solving skills, and data analysis ranked in the top six. Pissarides emphasized that in addition to schools providing STEAM learning content and training for low-skilled labor, companies must pay attention to training and arrange regular training plans.