At the latest Richemont results presentation, Johann Rupert stated: "It’s a terrible thing capping students when you know many of their careers will not exist in the future." Unemployment in SA is at a 14-year high and the economy is in recession. Similar questions about the future are being asked in investment circles and by young job seekers: how do we grow the pie in order to reduce poverty and inequality? Globally, we have witnessed a steady decline in the labour share of GDP but a closer look at the data reveals that low-skilled jobs are being replaced by automation as companies seek to extract efficiencies. In addition, there is a growing trend to outsource support services, further weakening the bargaining power of less skilled workers compared to those permanently employed. On the other hand, highly skilled jobs are becoming more sought after as the demand for services increases across the economy. The bottom line is that if a task can be mechanised, it probably will. The te...

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