The Future For Jobs Is Scary
Think the post-recessionary “New Normal” is a bummer? You ain’t seen nothing yet …
According to a truly scary study by Oxford University economists Carl Frey and Michael Osborne, a whopping 47 percent of American jobs are at risk of being automated within the next twenty years.
Yes … you read that right. Nearly half of all jobs in the United States are in jeopardy of becoming obsolete within two decades.
Obviously this doesn’t mean all of these jobs will be automated – but it does highlight the headwinds facing an American economy struggling to rebound from the “Great Recession.”
Entitled “The Future of Employment: How Susceptible Are Jobs to Computerisation?“ - Frey and Osborne examine more than 700 positions and assess their “probability of computerisation” as well as the resulting impact on “labour market outcomes.”
According to their research the three most at-risk employment sectors are service, sales and office support/ administrative jobs.
So yeah … nearly half of the workforce is about right.
Before we worry about the frightening future, though, America has to get through its uncomfortable present. Nearly six years after the official start of the “Great Recession,” America’s labor market has yet to stabilize. Sure the unemployment rate has declined, but labor participation is at a 35-year low – and a record 90.5 million Americans are out of the workforce.
Meanwhile incomes have plummeted as full-time positions have become harder than ever to come by …