22 ms·
Right, but the USA has a 4.7 unemployment rate, which is one of the lowest in the world and a far cry from the 100% unemployment futurists keep claiming will ha
by drzaiusapelord 10y ago
Right, but the USA has a 4.7 unemployment rate, which is one of the lowest in the world and a far cry from the 100% unemployment futurists keep claiming will happen 'any year now.' Jobs continue to exist, continue to be created, etc. This stuff is a lot more complex than "automation will eat jobs." If anything, automation has created vastly more jobs than anyone thought possible due to a variety of factors not the least of which is a shift to IT/technical trades, service-based trades, and the massive amount of human power you need to run a competitive bureaucracy to run those factories and services.
Then all that excess money from 'decent' jobs goes towards more goods and services that otherwise wouldn't be possible. I mean, people casually blow $300+ on a robot vacuum cleaner or $600+ on a phone. And now you have more jobs in industries no one predicted possible 30 years ago and so on.
Not to mention, generally, the more competitive the industry the most staffing it needs. I'm sure there's some rule named after someone about this, but hot industries go on hiring sprees and when your economy is as innovative and wealthy as the US's that translates into a high demand for qualified candidates. That offsets a lot of job loss in dying sectors.
- graedus 10y ago> Right, but the USA has a 4.7 unemployment rate When talking about the headline unemployment rate, it's a good idea to view this seemingly rosy figure in the context of our current ~40 year lows in the labor force participation rate[0]. It's misleading to look at one without the other, IMO. [0] https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART
- baursak 10y agoAnd a record level incarceration rate.
- drzaiusapelord 10y agoand record lows in crime. I don't see this as a problem.
- tonyedgecombe 10y agoOther countries have seen similar falls in crime without the high incarceration rates of the US.