Lead:
The term unemployment seems to have been repeated throughout history, each time accompanied by great social and economic fluctuations. However, times are constantly evolving, and the causes and effects of unemployment are gradually changing. Looking back at the wave of layoffs in the 90s and the wave of unemployment in 2023, although the time horizon is longer, there are surprising similarities between them, as well as clear differences. This article will take a closer look at these two waves of unemployment, explore their commonalities and differences, and draw inspiration from them to better meet the challenges ahead.
First, technological progress has triggered a wave of unemployment
The wave of layoffs in the 90s and the wave of unemployment in 2023 are closely linked to technological progress.
In the 90s, the introduction of new technologies and the reform and restructuring of enterprises led to the loss of jobs for a large number of workers. During this period, the traditional production lines in the factory were gradually replaced by automated production equipment, and the workers faced unprecedented challenges. However, the wave of unemployment in 2023 is even more profound, as it stems from the rapid development of automation and artificial intelligence, which has hit almost every industry. Low-skilled jobs have been replaced by high-tech, forcing many people to rethink their career paths.
Second, the impact of labor market and social stability
Whether it is the wave of layoffs in the 90s or the wave of unemployment in 2023, it has had a huge impact on the labor market and social stability.
In the 90s, the emergence of a large number of unemployed people led to social instability and increased the problem of social security. In 2023, the wave of unemployment will pose a serious socio-economic challenge. Not only is the government under pressure to reduce tax revenues and increase social welfare spending, but it also needs to deal with social discontent caused by unemployment, which can lead to further social unrest.
However, there is also a significant difference between the wave of layoffs in the 90s and the wave of unemployment in 2023.
First, the wave of layoffs in the 90s was mainly caused by corporate reform and restructuring, while the wave of unemployment in 2023 was mainly due to technological progress.
This means that in the latter, technological changes play a more important role in determining work processes and job requirements. The traditional industrial structure has been completely overturned, forcing people to adapt to a new working environment.
Secondly, the wave of layoffs in the 90s mainly impacted traditional manufacturing and related industries, while the wave of unemployment in 2023 will mainly affect low- and medium-skilled jobs in the current market. The spread of automation and artificial intelligence will make many repetitive, heavy and low-skilled jobs disappear, and the demand for high-tech jobs will surge. This will trigger dramatic structural changes in the labour market, requiring people to adapt and transform.
Finally, attitudes towards the wave of layoffs in the 90s and the wave of unemployment in 2023 have also changed significantly. In the 90s, the government took a series of measures, including providing re-employment training, establishing service agencies and providing unemployment benefits to help the unemployed. However, amid the wave of unemployment in 2023, people are paying more attention to planning ahead and adapting, recognizing the importance of education and training and the potential for diversified career development to better prepare for future changes. This positive attitude may give people more confidence to face the challenge of unemployment.
Taken together, the wave of layoffs in the 90s and the wave of unemployment in 2023, although there are some commonalities and differences in the context, causes and effects of the times, they are both part of the transformation of the labor market.