702 occupations would soon be computerized out of existence
Advances in data mining, machine vision, artificial intelligence and other technologies could, put 47 percent of American jobs at high risk of being automated in the years ahead. Loan officers, tax preparers, cashiers, locomotive engineers, paralegals, roofers, taxi drivers and even animal breeders are all in danger of going the way of the switchboard operator.
Since the end of the Great Recession, job creation has not kept up with population growth. Corporate profits have doubled since 2000, yet median household income dropped from $55,986 to $51,017. Somehow businesses are making more profit with fewer workers.
Business researchers at MIT, call this divergence the “great decoupling.” In their view, it is a historic shift.
The conventional economic wisdom has long been that as long as productivity is increasing, all is well. Technological innovations foster higher productivity, which leads to higher incomes and greater well-being for all. And for most of the 20th century productivity and incomes did rise in parallel. But in recent decades the two began to diverge. Productivity kept increasing while incomes—which is to say, the welfare of individual workers—stagnated or dropped.
Researchers argue that technological advances are destroying jobs, particularly low-skill jobs, faster than they are creating them. They cite research showing that so-called routine jobs (bank teller, machine operator, dressmaker) began to fade in the 1980s, when computers first made their presence known, but that the rate has accelerated: between 2001 and 2011, 11 percent of routine jobs disappeared.
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