Automation has “contributed substantially” to reducing the portion of national income that goes to U.S. workers over the past two decades, according to a new study by economists at the Federal Reserve Bank of San Francisco.
Despite the lowest unemployment rate in around 50 years, the so-called labor share has fallen to about 56% from 63% in 2000 and the increased use of robots and other technology has been an important driving factor, the economists Sylvain Leduc and Zheng Liu wrote in the report published on Monday.
“Businesses have more options to automate hard-to-fill positions now than in the past,” wrote Leduc and Liu. “With rapid advances in robotics and artificial intelligence, robots can perform more jobs and tasks that required human skills only a few years ago.”
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I prefer robots. They don't have "attitudes".
ReplyDeleteI prefer robots too. They don't call out or need breaks,vacations or benefits and they don't Unionize .....yet. They still need well trained humans to tell them what to do and they actually do it the way they are instructed.
ReplyDeleteYou Think !! Millions Upon Millions !! Soon Enough: CYBERNET !! RISE OF THE MACHINES !!!!!! ...( Yep you saw and heard it first at The movie theater ) !!!!!
ReplyDeleteAnd they don't pay taxes that our country infrastructure has to have
ReplyDeleteWhen your jobs "2:22 and 3:38" are replaced by robots, you'll have a whole different perspective about American labor
ReplyDelete