Automation is replacing rote, routine jobs. I am not in the camp that says we will have 40-50% unemployment rate because of it, but I do believe we will see significant turmoil in the labor markets as well as wage pressure at the lower end of income scale because of automation.
Something to think about before the next NFP report (tomorrow):
Source: World Economic Forum
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Torsten Sløk was our MIB guest this week; here is a recent chart of his worth sharing: Source: Torsten Sløk, Ph.D., Deutsche Bank...
