The development of the living wage coupled with the growing automation of tasks could create a perfect storm that prices a growing number of people out of the jobs markets, a report from the Institute of Fiscal Studies claims. The authors suggest that one of the unintended consequences of the increase of the rate to £8.50 by 2020 could be that people in low paid work could find themselves in competition for jobs with robots and artificial intelligence. The report concludes that there will be a tipping point at which human labour becomes economically unviable, although it does not […]
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