Posts tagged with "MoneySuperMarket"

GENERATION OF AUTOMATION: IS YOUR JOB IN DANGER?

Humanity has made great strides in the technical world and, as of late, those strides have begun affecting the livelihood of people directly. Technology, (specifically A.I.) has seen vast advancements in recent years, so much so that for some industries the threat of redundancy is becoming ever more real.

According to original research from MoneySuperMarket, driverless vehicles are growing in capability and becoming more popular among firms that traditionally employ large numbers of drivers. Such a transition could trigger large-scale redundancies by as early as 2020. But, which jobs are in danger of being automated first?

Is Your Job At Risk?

To date in the UK, many motoring jobs have already fallen victim to automation – and as many as 1.2 million face a 67% or higher probability of their jobs being automated – representing up to £23.9 billion in annual salaries.

Among professional drivers, only driving instructors have little to fear, with the 29,000 employed in the UK having only a 13% chance of replacement with a machine. However, there are many other driving oriented jobs that could be in danger of being automated such as:
1. Food delivery drivers – The takeaway delivery industry is likely to see replacements across the board, with a 98% chance of automation.
2. Waste disposal workers – Waste collectors face a 93% likelihood of having their roles replaced by a machine. Volvo showcased a prototype bin lorry that uses drones to identify nearby bins, although this wouldn’t completely replace the need for human workers.
3. Taxi drivers – As with bus drivers, there have been moves to automate private transport services. Notably, Addison Lee has stated that the company intends to have automated vehicles deployed in London by 2021. In Tokyo, meanwhile, an autonomous taxi service began operation in August, transporting passengers along a set route.
Even though, driverless technology advances with each passing year, there are some jobs in emergency services, that aren’t at high risk of being fully automated. Services such as, ambulances, police and the fire department are at less risk of being fully replaced due to requiring additional skills.

Tom Flack, Editor-in-Chief at MoneySuperMarket, commented:

“Automation will bring massive changes across the whole of society and those who drive for a living may be among the first to feel its effects. Tests of driverless vehicles are well-advanced and are soon to be on the roads – with future positions in commercial usage already identified.
“If businesses see an opportunity to save money by making drivers redundant, they are likely to grab it – that’s the nature of competition. We can only hope that automation brings with it fresh employment opportunities for those whose existing roles disappear.”

UK Households Spending More Than They Earn

  • UK cost of living for a four-person family is £60,000 per year – 103 per cent of average household income
  • UK housing and utility costs have risen by 13 per cent1
  • The global study found the most affordable expat country for families is Sweden

Today, new research by leading price comparison website MoneySuperMarket reveals that the UK is the most expensive location to raise a family. The running costs associated with a four-person family in the UK exceeded those of Spain, USA, Germany and Sweden due to the high costs of rent, utility bills and groceries2.

The data is based on the average monthly cost of property, utility bills and grocery shopping for a family with two children in 10 locations. These locations are some of the most popular destinations for the British public to emigrate to. MoneySuperMarket also ranked the costs against the countries’ average full time salary, to reveal the percentage of salary two working adults must put towards household expenses. In the UK, the average cost of a four-person family is more than twice the combined total of two adults’ salaries4.

Popular expat destinations with lower living costs

With lower utility bills (£94.41 per month), heavily subsidised pre-school costs (£230.34) and a standard average monthly rent of £1,149.40, Sweden is the only country analysed where a single parent can comfortably afford to have two children, working out as 87 per cent of the average working salary5. Based on two adults with two children it’s even more affordable, eating into less than half (43 per cent) of the combined salaries.

The full ranking of the affordable global cities to raise a family, including a breakdown of all metrics, can be seen below:

Global cost of raising a four-person family

Changing costs over time

On average, the weekly food shop has lowered in price for families over the last 16 years, from £236 to £232. However, spending on both housing and utilities, and household goods and services, has increased by 11 per cent overall. In 2001, the average monthly cost of housing and utilities per person in the UK was £277.77, but by 2017 this figure had risen by 13 per cent to £314.82. Due to these rises, the cost of raising a family in the UK has become more expensive.

For more information on the most affordable countries to move to, check out the MoneySuperMarket report around the changes in UK household spending over time.