Four years after he won the Midwest by vowing to revitalize the U.S. manufacturing workforce, President Donald Trump is campaigning for reelection on a job well done. The numbers tell a different story.
Trump’s anti-trade agenda and a pandemic-induced recession have combined to shutter factories and accelerate decades-old trends toward automation, eliminating hundreds of thousands of manufacturing jobs, many for good, including in the Rust Belt states he needs to win in November.
The president’s path to the Oval Office was paved by his victory in this factory-intense region, where a downturn in manufacturing that began in 2015 opened the door […]
In recent decades, the U.S. labor market has undergone a fundamental shift — a polarization of the job market and the hollowing out of middle-skill occupations. Furthermore, since 1990, every U.S. recession has been followed by a so-called jobless recovery . Given the unique nature of the pandemic shock, the following question is worth considering: Will the 2020 recession further polarize the job market and leave us with another jobless recovery?
Since the early 1980s, middle-skill, routine occupations have declined while high-skill, non-routine occupations have seen substantial growth. Interestingly, low-skill, non-routine service-oriented occupations have also experienced job growth. Economists Daron […]
When Salford University in the UK announced in June this year it had received funding from the European Regional Development Fund for its £13m North of England Robotics Innovation Centre, it became the latest in a growing list of UK and European universities to offer courses on robotics engineering. There is an irony here in that the Salford region voted to leave the EU during the UK’s referendum in 2016 but nevertheless, that EU funding will undoubtedly go to good use. In fact, while pre-Covid-19, robotics was unfairly regarded as the reason behind potential job losses, today, it could […]
U.S. President Donald Trump in a Labour Day address to reporters called for decoupling from China to bring manufacturing jobs home. (Sarah Silbiger/Reuters) As North America goes through its biggest recession and loss of jobs in decades, U.S. President Donald Trump is offering a job creation solution.
In a Labour Day election address to the media, the Republican candidate declared that a move toward "decoupling" from China would transform the U.S. economy and bring manufacturing jobs home.
"We will make America into the manufacturing superpower of the world and we’ll end reliance on China once and for all," Trump said in […]
In the wake of COVID-19, some economists are calling for developing countries to shift from industrialization to services, or even to bypass the manufacturing stage of development altogether. But blind faith in services-led growth is a dangerous illusion, and the arguments supporting it are deeply flawed.
CAMBRIDGE – As the world prepares for the post-pandemic era, the quest for sustainable economic growth is becoming ever more intense – especially for developing countries. It is tempting to call for these countries – the main engine of global growth in recent decades – to shift their development strategies from industrialization to services. […]
New research by MIT economist Daron Acemoglu shows that since 1987, automation has taken away jobs from lower-skill workers without being replaced by an equivalent number of labor-market opportunities. Modern technology affects different workers in different ways. In some white-collar jobs — designer, engineer — people become more productive with sophisticated software at their side. In other cases, forms of automation, from robots to phone-answering systems, have simply replaced factory workers, receptionists, and many other kinds of employees.
Now a new study co-authored by an MIT economist suggests automation has a bigger impact on the labor market and income inequality […]
An aerial view of Nairobi CBD. FILE PHOTO | NMG Two weeks ago, I wrote about cheap labour not being the industrialisation path for Kenya. I cited the story a young engineer who worked in a company producing bottle caps for 12 hours a day and calculated his labour output for the day as Sh6 million after producing 1.2 million bottle caps before talking about the subject matter of cheap labour.
Now, I had indicated that the reason behind writing the article was to respond to the follow-up analysis that cheap labour was what industrialised the East Asian Tigers but […]
Automation has been gradually transforming the workplace for years (think Excel spreadsheets or chatbots). As artificial intelligence (AI), machine learning and deep learning systems that can learn from each other become more prevalent and smarter (think Alexa or IBM Watson), they continue to replace more manual, repetitive job tasks. Consequently, automation and robots are changing more jobs globally at breakneck speed.
A McKinsey Global Institute report suggests that between 400 million to 800 million jobs worldwide will be lost due to automation by 2030. The report claims that the U.S. could lose between 16 to 54 million jobs by 2030. […]
Based in Tacoma, WA, Tool Gauge manufactures precision metal and plastic components for the aerospace industry. Like a lot of U.S. manufacturers, the company faces two main challenges: beating overseas competitors and containing staffing costs in a tight labor market.
To meet increasing demand, Jim Lee, Tool Gauge’s general manager, had been looking to hire as many as 100 new employees that simply weren’t available in the tight Pacific Northwest labor market. “It became clear to us that the way that we can compete is not by adding more bodies but by adding more technology, and then adding more value […]
Automation Technologies: The Future of Business Here Today 1 By Dijam Panigrahi is Co-founder and COO of Grid Raster Inc.
It’s important to stay ahead of the curve when it comes to technology especially as it can make or break a company’s efficiency and bottom line. With that in mind, businesses should be aware of the latest trend: automation technology. Deemed as the number-one trend by Gartner in 2020, automation technology is the future of business.
Automation technology can be programmed to complete logical processes for a particular business. This grouping includes, but is not limited to, robotic process automation […]