The purpose of the research - is to identify the possible impact of technological innovation and automation on the labor market, given the rapid development of computer technology, also known as the 4th Industrial Revolution, which in turn creates new opportunities and challenges for society. An analysis of the possible measures taken to ensure sustainable social development of society.

The methodology of the research - the latest data on the task and consequences of technological innovations for labor markets based on academic literature is presented, and the resulting policy problems and the response measures are discussed. Potential scenarios are also analyzed to develop appropriate tools and measures for the formation of an inclusive economic policy.

The practical importance of the research - innovative activity is to attract business to all types of activities of scientific, technical, organizational, financial and commercial organizations that lead or are intended to lead to innovation.

The results of the research - one of the key conclusions is that until recently, technological changes had little effect on the total number of jobs, but led to a significant restructuring of jobs. This in turn implies three key problems for global labor markets: firstly, automation and digitization are causing changes in qualification requirements, and the fate of workers in changing labor markets depends to a large extent on their ability to keep up with the changes. Secondly, automation is not a purely technological process, but requires a concomitant process of organizational change. Thirdly, automation is accompanied by an increase in the share of alternative work schemes due to more outsourcing, standardization, fragmentation and online platforms.

The originality and scientific novelty of the research - alternative working conditions involve both new opportunities and problems. These problems require adequate political measures at the European, national and regional levels, which are outlined in the working paper for education and training policies, active labor market policies, income policies, tax systems and technology policies.

Keywords: innovation, computer technology, industrial revolution, automation, digital divide, flexible skills, lifelong learning.