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"Tectonic Shifts" in Employment

Interesting article by David Talbot regarding technology and it’s impact on the job market…

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Information technology is reducing the need for certain jobs faster than new ones are being created.

  • JANUARY/FEBRUARY 2012
  • BY DAVID TALBOT

The United States faces a protracted unemployment crisis: 6.3 million fewer Americans have jobs than was true at the end of 2007. And yet the country’s economic output is higher today than it was before the financial crisis. Where did the jobs go? Several factors, including outsourcing, help explain the state of the labor market, but fast-advancing, IT-driven automation might be playing the biggest role.

Since the beginning of the Industrial Revolution, people have feared that new technologies would permanently erode employment. Over and over again, these dislocations of labor have been temporary: technologies that made some jobs obsolete eventually led to new kinds of work, raising productivity and prosperity with no overall negative effect on employment.

There’s nothing to suggest that this dynamic no longer operates, but new research is showing ——>Click to read more…