Two words for job creation: machinery and equipment
While overall technology means lower levels of labour intensity, data shows that output growth does create direct employment
The machinery and equipment sector is crucial to the fourth industrial revolution (4IR) because the convergence of ICT and machinery is the basis for smart manufacturing. SA is fortunate to have established advanced capabilities in machinery and equipment production largely due to the linkage with mining. With a proper plan of action, this strength can be leveraged for substantial, additional employment for hundreds of thousands of people.
The unprecedented changes in production processes bring prospects for improved productivity and industrial competitiveness. As such, countries are much better positioned in the 4IR if they have developed capabilities in the manufacture of machinery and in the linked design, engineering and data analysis services...