>And against all of this, unemployment is still near its target rate. Unemployment is a synthetic measure. A mom working 39 hour shifts at Walmart so she doesn

>And against all of this, unemployment is still near its target rate. Unemployment is a synthetic measure. A mom working 39 hour shifts at Walmart so she doesn't get benefits isn't the same as a cush office job that's rolling in benefits. When we look at post-industrial societies, we look at late stage job creation being problematic. There's a lot of Mcjobs, temp jobs, and contract jobs. Technically those people are employed, but its not sustainable for them. Yes, the US has done well but its an exception for the most part due to the massive economy at work here and the relative lack of competition, until recently, from other regions. French youth unemployment hit 26% a few months ago. Spain and Greece are just as bad, if not worse. Jobs in many European economies are lifer jobs because if you leave, your chances of getting a new one is slim. The real question is, when is the camel's back going to break. Another good career job replaced by a McJob thanks to automation won't change the unemployment stats, but it will make people unhappy. It will drive down the economy with less spending and other issues. In other words, wages matter, not just employment numbers. I would not assume we are sitting pretty right now. This dam is going to break. Arguably, the surprise win of anti-automation, anti-liberal, anti-globalization, and anti-intellectual candidates in the UK and the USA are the first signs of a major fault.