AI, disability, economy, life insurance, new economy, retirement

Jobs at Risk

A recent study by McKinsey Global Institute examined how robotics will affect labor and the economy. The study estimated that 800 million jobs (1/5 of all jobs) will be impacted by advances in robotics.

Among the jobs most impacted include brokers, accountants, office staff, machine operators, and food service. Lower skilled, repetitive tasks are most likely to be replaced.

What does this mean for family finances in the years to come?

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AI, economy, new economy, retirement

Productivity and Robots

 

For decades the US economy has suffered from stagnant wages and stifled productivity. While the economy has grown in GDP since 1970 growing from $1 trillion to $18.5 trillion in 2016 the American worker has not enjoyed commensurate benefits. Wages have remained flat for decades. 

 

In the past, studies have shown that part of the reason for this was the development of the computer and its influence on businesses improving efficiency. 

 

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