New technologies can create huge numbers of meaningful jobs
Augmented reality can play a pivotal role in removing labour inefficiencies. In the US,Ā recent jobs reportsĀ have generally been met with enthusiasm and positivity. Unemployment continues to drop to 10-year lows and most economists believe America is approaching āfull employment.ā Wage growth remains in positive territory. And yet, people are angry. Blue-collar manufacturing jobs have disappeared.Ā Income inequality is increasing, and the once-steadfast middle class is being hollowed out. Their anger arises from a sense of economic insecurity and it is the idea that weaves together Brexit, Trumpās takeover of the Republican party, and Le Penās National Front. The acute disconnect is alarming. How can the US be at full employment and yet harbour such profound socioeconomic discontent? The Dignity of Work A reporter for the New York TimesĀ recently rode with a number of truck drivers to learn about their job. Truck drivers spoke at length about the low pay and health issues the job entailed. The title of the article was āAlone on the Open Road: Truckers feel like āThrowaway People.āā Much has been made of theĀ looming devastation that self-driving technology will haveĀ on the 3.5 million truck drivers in the US, as well as how these millions of newly unemployed individuals will add fuel to the populist flames. The concern is misdirected. Digging deeper into the data clarifies this disconnect further. Many are in part-time jobs or are underemployed for their experience and skillset. Only 62% of Americans are even participating in the labour market, and a growing number of people in their prime working years have given up on trying to find a job. The populist language of modern politicians confirms this thesis. Americans are being āleft behind.ā Workers in the Rust Belt have become a āforgotten people.ā People may have jobs, but theyāre not the jobs they want. […]