How does the increased use of digital technologies change the way we work? Is the fear of automation taking away our jobs justified? Or do our tasks and skills evolve to meet the new conditions? Our host Michael Steen discusses these questions and more with economists Valerie Jarvis and Robert Anderton in this episode.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 2 September 2020 and recorded on 13 August 2020.

In this episode:

01:11 – Digitalisation: what it is and its presence across the euro area

How to measure digitalisation, how it affects our economies and what explains the differences in digitalisation levels across euro area countries.

05:24 – Digitalisation and labour markets

What is the impact of digital technologies on labour markets, how robots are affecting the way we work and the important role of institutions and governance in reaping the benefits of digitalisation.

09:27 – Digitalisation and employment growth

Why machines are not replacing humans and how the digital revolution can bring about large improvements in productivity and living standards.

12:40 – Zooming in on digital jobs

How the proportions of digitally dependent employment differ across Europe, why the role of each country’s characteristics is important and why countries with higher digital employment growth are also those with lower unemployment.

Further reading:

Virtually everywhere? Digitalisation and the euro area and EU economies

https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op244~2acc4f0b4e.en.pdf

Digitalisation and its impact on the economy: insights from a survey of large companies

https://www.ecb.europa.eu/pub/economic-bulletin/focus/2018/html/ecb.ebbox201807_04.en.html

European Central Bank

https://www.ecb.europa.eu/home/html/index.en.html