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Robots Aren't Yet Killing Off All Our Jobs, World Bank Says


While advanced economies have shed industrial jobs over the last two decades, the rise of the same sector in East Asia has more than compensated for the loss.

The World Banks Chief Economist Pinelopi Koujianou Goldberg said the fear that robots have eliminated jobs is "not supported by the evidence so far.

Credit: medium.com

The growth of automation so far has had a negligible impact on jobs at a global level, according to Pinelopi Koujianou Goldberg, the World Bank's chief economist.

Although developed economies have shed industrial jobs over the last 20 years, growth in such jobs in East Asia has more than compensated for the loss.

The World Development Report 2019 is the latest in a series of efforts by academics, consultancies, and governments to measure the impact of new technology on employment, with previous studies often forecasting that automation will destroy more jobs than it creates.

However, the World Bank's recent report stresses the nature of work in the future will change; technological advances in automation will eliminate many low-skill jobs in advanced economies and development countries, while creating opportunities for different, more productive, and more creative jobs.

From Bloomberg
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Abstracts Copyright © 2019 SmithBucklin, Washington, DC, USA


 

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