employment

Automation robot

The new industrial revolution has begun. Research shows more robots = fewer jobs.

Summary: Here is a milestone economics paper, showing that the new wave of automation is already a net destroyer of jobs. The next industrial revolution has begun, and the effects will accelerate from here. We have to start thinking about ways to divide the new wealth it produces — and handle the massive unemployment. “On …

The new industrial revolution has begun. Research shows more robots = fewer jobs. Read More »

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The March jobs reports shatters dreams, but might point to a stronger future for America

Summary: It’s time for the monthly festival of misinformation about the jobs report! It is ugly news for investors, the Fed’s governors, and Team Trump. But it might — perhaps — point to a stronger future for America. The Roman god Janus sees both sides of the news. So should we.  This is the second of …

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Retail Technology

The new industrial revolution hits retail: prepare for mass firings.

Summary: The new industrial revolution will have its greatest effect on industries that have large imbalances. Like retail, after decades of overbuilding stores. Lots of jobs will be destroyed. Watch closely, other industries will be hit with similar shocks. Hayley Petersen at Business Insider points to the next wave of the industrial revolution: “The retail apocalypse …

The new industrial revolution hits retail: prepare for mass firings. Read More »

Surprising revelation: Janet Yellen reveals why the Fed is raising rates!

Summary: Usually we can only guess at the motives of our senior officials. But on rare occasions they give us clues to their real priorities and objectives. The Fed is especially opaque, so we speculate about their odd rate increases during a slow and slowing economy. Yesterday Janet Yellen explained why. The answer is shocking …

Surprising revelation: Janet Yellen reveals why the Fed is raising rates! Read More »

Trucking Industry Profits

So many open jobs for truck drivers! It’s another bogus skills shortage story.

Summary: Today we learn about all those open jobs for truck drivers, waiting for lazy Americans (or more immigrants) to fill them. It is another bogus “skills shortage” story, revealing much about how America is changing. The road to larger trucking industry profits. The plutocrat revolution against America has many fronts. One of the most important is their …

So many open jobs for truck drivers! It’s another bogus skills shortage story. Read More »