When Will the Jobs Return?

On many people's minds.  even if you don't need a job, the economy will be greatly influenced depending how jobs are filled, or not.     Will this be an opportunity to replace workers with tech?

When Will the Jobs Return?  In Knowledge@Wharton
  
MIC LISTEN TO THE PODCAST (At the link below) 

Diane Lim from the Penn Wharton Budget Model talks with Wharton Business Daily on Sirius XM about the latest unemployment numbers.

After a double whammy during the past week, the unemployment pains triggered by the coronavirus pandemic seem likely to worsen in the U.S. in the coming months. The number of people filing for unemployment insurance doubled to 6.65 million in the latest weekly report on April 2, taking the two-week total to nearly 10 million. On April 3, the unemployment report for March logged a loss of 701,000 jobs, making it the worst month for unemployment since the last recession. It also took the unemployment rate to 4.4% in March from 3.5% in February, the largest one-month increase since January 1975.

Workers are more pessimistic about losing work in the coming year as they expect overall unemployment to be higher, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations, which was released on April 6. The survey found that workers also expect the growth in their earnings to fall and are less optimistic about finding a new job in the coming year.

The latest unemployment report came as a surprise to many labor economists, because they did not expect much of the pandemic’s impact to show up in the last monthly jobs report as it did, according to Diane Lim, director of outreach and senior advisor at the Penn Wharton Budget Model. “It’s very telling,” she said, pointing out that the survey covers only one week of March 8 through March 14. “That seems like an eternity ago, in terms of how much has happened in the economy with the shutdown since then.” Lim shared her views on the Wharton Business Daily radio show on SiriusXM. (Listen to the podcast above.)   .... " 

Technological Unemployment Talks

Talks from the World Summit on Technological Unemployment, was on September 15.

" .... The World Technology Network (www.WTN.net), a community of the world's most innovative individuals and organizations in science, technology, and related fields, launched the first-ever World Summit on Technological Unemployment on September 29, 2015, at the TIME Conference Center in the historic TIME & LIFE Building in New York City.

Accelerating technological unemployment will likely be one of the most challenging societal issues in the 21st Century. Never before in history are so many industries being simultaneously upended by new technologies. Though "creative destruction," in which lost jobs are replaced with new ones, will be a factor, our newest technologies have the clear potential to eliminate many more jobs than we create. With technology advancing at a geometric pace, robotics, artificial intelligence, 3D-printing, and other innovations with enormous disruptive potential will soon hit the mainstream. Billions of people worldwide are currently employed in industries that will likely be affected—and billions of new entrants to the workforce will need jobs.

While much has been written about the coming collision of rapidly advancing technology and an increasingly displaced workforce (a recent Oxford study predicts 47% of US jobs gone from technology within two decades), there has been no structured attempt at any level of government, academia, or industry to define, address, and even begin to conceive solutions to what may well be the greatest threat to our social fabric in the years ahead. ... "