Page 76 - Regional Employment & Skills Plan 2019

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Regional Strengths & Risks78
Strengths
Strengths (Industries that are growing nationally, and in which our region has comparative advantage over other areas of the country)
Visitor Economy
Education & Knowledge Creation
Agricultural Inputs and Services Civil Engineering
Vehicle and Defence Technology
Opportunities
(Industries that are growing nationally, and in which our region has a healthy presence rather than a comparative advantage, so presenting the region with an opportunity to try and grow them)
Digital
Logistics and E-commerce
Production Technology Professional Services Food & Drink Production
Risks
(Industries in which our region enjoys a comparative advantage over other areas, but which are set to decline nationally in coming years, indicating they may be under threat)
Upstream Metal Forestry
Extractives
Technological change is occurring at a rapid rate and has been termed by some as the Fourth Industrial Revolution. What this means for Wales and more specifically the region is relatively unknown, however it is possible to make some assumptions based on information presently available.
‘The digitisation and convergence of technologies is accelerating developments in artificial intelligence (AI) and machine learning; precision automation and next generation manufacturing; and more broadly in transport (autonomous vehicles), health and connectivity (Internet of Things).’79
There has been much discussion about automation in recent years and what this could mean for jobs in the future. It is thought that the main sector to be affected by the automation of repetitive and predictable tasks will be the manufacturing sector, following this transformations to the service sector will also be seen. Further to the analysis of sectors it is thought that people with lower level qualifications living in poorer regions will be disproportionately affected. These relate to jobs in the transportation and storage, manufacturing, and wholesale and retail sectors.
These predictions pose particular questions for us as a region given that 24% of the workforce are employed in ‘wholesale, retail, transport, hotels and food’ occupations and 10% are employed within the ‘production’ sector. In addition, the vast majority of the working age population are qualified to level 2 or below.
These predictions don’t necessarily mean that due to automation and technological change a vast number of jobs will be immediately lost from the labour market. Rather, given its nature as a powerful disruptor the dynamics of the labour market will change meaning new types of jobs will be created. It is therefore imperative that the RLSP continues its work in identifying the skills needs of employers within the region and facilitating the resulting dialogue between employers and providers. This will serve to alleviate the pressures placed on those sectors mentioned above and support their workforce to adapt and diversify as the need arises.
78 RLSP analysis of EMSI data
79 https://www.wcpp.org.uk/wp-content/uploads/2018/04/The-Future-of-Work-in-Wales.pdf
Regional Employment & Skills Plan South West & Mid Wales
Aspirational Projects and Key Developments