In Disappearing Routine Jobs: Who, How, and Why? economists from USC, UBC and Manchester University document how the automation of "routine" jobs (welders, bank tellers, etc) that pay middle class wages has pushed those workers out of the job market entirely, or pushed them into low-paying, insecure employment.
The study links the phenomenon of unemployment with automation -- an obvious-seeming connection -- by establishing a causal relationship that goes beyond mere correlation: people stop working because robots take their jobs. Robots don't just co-occur with unemployment, they cause it.
The share of Americans working in routine jobs has fallen from 40.5% in 1979 to 31.2% in 2014, according to the paper. The federal government’s official measure of Americans age 16 and over who are working or seeking work has fallen from a recent high of 67.3% in 2000 to 62.7% in November 2016.
“Routine jobs are disappearing and more and more prime-age Americans aren’t working,” said Mr. Siu. “These things are two sides of the same coin.”
Disappearing Routine Jobs: Who, How, and Why? [Guido Matias Cortes, Nir Jaimovich and Henry E. Siu/NBER]
(via Marginal Revolution)
Documents on an unprotected, network-connected drive owned by an employee of Nokia shed light on the inner workings of Russia’s networked surveillance system known as SORM (Russian: COPM).
Thomas Piketty, the French economist behind 2014's game-changing Capital in the 21st Century, has a new book, Capital and Ideology (out in France now, coming in English in 2020), which uses the same long-run economic series that Capital 21C benefited from to understand the relationship between wealth and ideology. Central to Piketty's thesis: that it's […]
The real estate bubble is in trouble: London's luxury housing market has been in freefall for years, and New York's retail vacancy has been soaring, even as global super-luxe housing is also tanking.
If you’re part of the maker community, you know Make:. Though Make: magazine is off the shelves as of this year, the eBooks and resources put out by Maker Media are still a fantastic resource for the new generation of tinkerers, hackers, and robotics geeks. If you’re in that tribe, listen up: they’ve released a […]
Life isn’t getting any less hectic, and pressure cookers are a quick, healthy solution for a growing number of kitchens. But if you thought your Instant Pot was versatile, there’s a major upgrade on the market: The Yedi 9-in-1 Total Package Instant Programmable Pressure Cooker. If you’ve somehow never used a pressure cooker before, try […]
When it comes to data analytics or deep learning, there’s one language behind the apps and algorithms that power the biggest companies of today: Python. The best part about this tool is that as versatile as it is, it’s actually fairly easy to learn. But mastery? For that, you need more than just a beginners’ […]