Say Good-Bye to Employment
- In the brave new world of robotics, outsourcing and the endless importation of new workers you will see a massive increase in American poverty, a growing permanent jobless class and the rise of violence.
- The political hacks in both parties have no clue about the economic clusterfuck that is coming. As robots replace workers the consumer economy will permanently crash because no one will have jobs to buy products and services.
50% of all jobs to be abolished
BERLIN - Recent reports suggest that robots, not immigrants, may pose the greatest threat to German workers — though the European Union has placed a $4 billion bet that robots will create rather than eliminate jobs.
The new wave of automation will hit white-collar workers hardest, according to Jeremy Bowles, a researcher at the Brussels-based Bruegel Institute.
"What's fundamentally different is that (these advances) have the ability to affect a broader set of workers," Bowles said, comparing the next generation of computerization to the first wave of robots that hit assembly line jobs in the 1980s.
The impact of these innovations will vary across Europe, Bowles argues. But in Germany, as in the U.S., robots may soon take as many as half the existing jobs, according to the Bruegel Institute's analysis of the labor market.
These white-collar robots will be more software than hardware, eliminating service industry jobs in the way ATMs and automated telephone systems have already done. But — as the hostile reaction from German unions to other business models (think Amazon and Uber) has shown — bytes can be more revolutionary than bolts.
Where will all the workers go?
|Welcome to the Future|
The few humans left with jobs will buy products.
Everyone else will steal anything not nailed down.
Apple supplier to shrink workforce
SHENZHEN, China (Reuters) - Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, will cut its massive workforce, the company told Reuters, as the Apple Inc supplier faces declining revenue growth and rising wages in China.
Under its flagship unit Hon Hai Precision Industry Co Ltd, the group currently employs about 1.3 million people during peak production times, making it one of the largest private employers in the world.
Growth in smartphone sales will halve this year from 26 percent in 2014, according to researcher IDC, while PC sales will contract by 3 percent.
Similarly, the average smartphone will sell for 19 percent less in 2018 than last year's $297.
"Even if technology is improving, the price will still come down," Woo said. "We've come to accept that, our customers have come to accept that."
Automation will be key to keeping labor costs under control in the long-term, Woo said, as the company pushes to have robotic arms complete mundane tasks currently done by workers.
But Woo noted that company chairman Terry Gou's previously stated goal of 1 million robots was "a generic concept" rather than a firm target.
Workers Fear The Robot Revolution
The threat of smart machines to jobs is becoming more recognized as the economy gradually improves but hiring still lags stubbornly behind. During the long recession, businesses have adopted strategies emphasizing “efficiency” which means more computers, automation and robots.