ECONOMICS: Low value routine work is the easiest target for robots

Say Goodbye To Millions Of Jobs As Events Unfold
by Tyler Durden
Sun, 10/04/2020 – 13:30
Authored by Bruce Wilds via Advancing Time blog

*** begin quote ***

Many jobs will not be coming back after the covid-19 crisis ends. We can say goodbye to millions of jobs as events unfold and markets evolve. Millions of small businesses being decimated by Fed policies that favor huge companies coupled with a surge in automation bodes poorly for those looking for work. Over the last three decades, robots have become far more common in factories. In many manufacturing facilities, robots do most of the work. A typical factory may contain hundreds of robots working on fully automated production lines, as it rolls by on a conveyor, a product can be welded, glued, painted, and finally assembled at a sequence of robot stations.

*** end quote ***

Unfortunately, the current and next generation are not prepared to move up the “value chain”.

That doesn’t necessarily mean more college degrees will save you.

The world will always value “poor plumbers”, good doctors and car mechanics, and entrepreneurial people who satisfy the needs of their fellow human beings.

The essential skill to have is to recognize that “the rules” are always changing and one has to be ready to ride the “wave”.