Re: 10,000 jobs could be lost to robots says Citi

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Author: David Schwartz
To: Main PLUG discussion list
Subject: Re: 10,000 jobs could be lost to robots says Citi
Well, the Good News for folks on this list is that the software industry has still done virtually nothing to improve our own productivity, and as a result the Dept of Labor is still estimating a general shortage of over a million programmers by 2020.

We (as in WE THE PEOPLE) should be investing heavily in developing new technological solutions to replace these jobs, as well as retraiing people displaced by corporations more interested in their shareholders than society.

But instead, “shrinking the government” is leaving this investment to the same companies who are laying them off and complaining that there aren’t enough “qualified employees” to build the next generation of technology already.

And instead of investing in educating the masses (or even retraining the people they’re laying off), they’re buying back stock and investing their profits in off-shore facilities where they can hire labor at a fraction of the cost of US labor.

Who needs to deal with immigrants when Congress is giving you billions of dollars in free money to invest in whatever you can create that gives your shareholders the greatest ROI they can possibly get?

To add insult to injury, as much as Trump hates immigrants, I’m not holding my breath until he announces unlimited H-1B visas for people with degrees in “in-demand” fields like software and engineering (STEM) from countries with an excess of graduates in those fields, like India, Pakistan, China, S. Korea, Japan, and others.

As long as Trump is in office, your best investment is going to be in the stock market. Because wages will remain flat, layoffs will increase, the job market will shrink, job retraining will disappear, unemployment benefits will shrink, welfare will be harder to get, and Trump will do whatever it takes to appease his billionaire buddies.

-David Schwartz

> On Jun 12, 2018, at 6:42 PM, wrote:
> The article says in part "...advances in automation will lead to the loss of over 5 million jobs in 15 major developed and emerging economies by 2020.".
> <>
> I'm starting to see lots of articles like this one. I'm reading that whole industries will be wiped out within the next 20 years.

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