TECHNOLOGY AT WORK, The Future of Innovation and Employment is a study by Citi GPS, published in February 2015, which researches how new technologies affect employment. The report reveals a number of very interesting conclusions. Digital technologies create jobs in entirely new occupations and industries. For example, computer technology has recently given rise to many new occupations, such as database administrators and web designers. New technologies have also created entirely new industries, for example the Video and Audio Streaming industry, which appeared as a new title in 2010, following a series of innovations (QuickTime, Flash)
But surprisingly, the magnitude of new jobs created from the arrival of new technologies throughout the 2000s has been very small: in 2010 only about 0.5% of the US workforce was employed in new industries that did not exist a decade earlier. Second, workers in these industries are substantially better educated than the average population and earned much higher wages: the average wage for workers in new industries is more than twice the US median wage. Hence, in short, although technological progress continues to create new jobs, these have largely been confined to skilled workers. Cities and nations with a large pool of skilled workers have thus benefited disproportionally from recent technological change. An important lesson for Europe?