How many jobs were lost to automation in 2016
An article about the employment losses in the US insurance industry from the Bureau of Labor Statistics.
The number of US jobs lost to automated machines is higher than the number of jobs lost in the coal industry, according to a report released Tuesday.
The unemployment rate fell to 5.3% from 5.8% in November, and is the lowest level in 10 years.
“The numbers in the Bureau’s jobs report are important indicators for the economy and for policymakers.
The fact that we’ve had a steady decline in unemployment is one indicator that the economy is healthy and improving, and it helps us understand why people are willing to work longer hours,” said James Gorman, chief economist at the Center for Automotive Research.
“In this case, the economy has been on a solid path for a while, so the unemployment numbers are helpful in explaining that.”
The report said the US has added 1.2 million jobs since the beginning of the year, which is lower than the 1.7 million that had been predicted.
“What we’ve seen is an acceleration in the job market, which suggests a lot of activity is happening in the economy,” said Robert Stein, president of the Institute for Supply Management.
He added that the jobs that are coming back are likely to be lower-paying and have fewer benefits than those that are being lost.
“We are getting more automation at the expense of people,” he said.
The Bureau of Economic Analysis says the US lost 6.5 million jobs in the first nine months of 2016.
A lot of the losses have been in the retail, restaurant, and manufacturing industries, which has led to the US becoming a net exporter of goods.
The US lost 8 million manufacturing jobs in November.
A major contributor to the decline in US manufacturing employment was the decline of construction jobs, which have fallen by 3 million in the past 12 months.