Authored by Charles Hugh Smith via OfTwoMinds blog,
Employers have no choice: it’s innovate/automate or die.
Automation–networked robotics, software and processes–has already had a major impact on jobs. As this chart from my colleague Gordon T. Long illustrates, the rise of Internet technologies is reflected in the steady, long-term decline of the labor force participation rate– the percentage of the populace that is actively in the labor market. The oft-repeated fantasy is that every new wave of technological innovation creates more jobs than it destroys. Not this time: the total number of full-time jobs has stagnated for […]
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