Will robots steal our jobs? There seems to be mounting fear that the human labor force will face pressure from robotic automation, though a new report from Deloitte indicates job creation among the creative, care, tech and business service sectors make up for jobs lost in agriculture and manufacturing.
"It's been very easy to identify where jobs have been destroyed," said Ian Stewart, chief economist at Deloitte, in a statement to CNBC. "Job losses generally are very conspicuous, whether it's a middle manager replaced by software, or checkout staff displaced by auto terminals, whereas job gains [are] harder to identify."
Machines help drive down production costs, and consumers are more willing to spend on new consumer goods and services. Researchers point to increasing sales for things like short holidays, morning cups of coffee at a local café, and other luxuries consumers may not be able to splurge on.
Of course, there is a labor gap shortage, and income inequality seems poised to become even worse with increased robotic automation. No one is really sure what the future holds, but we'll have to prepare to make sure robots don't negatively impact a large portion of the human labor force.
Last updated: Apr 6, 2020 at 08:32 pm CDT
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