Posts tagged US economy
Don’t Panic: A Skeptic’s Guide to the AI Jobs Doomsday
July 16, 2026 // Overall, US unemployment was 5.9 percent in mid-1979 and 5.3 percent by mid-1989.[25] During this same period the working-age population swelled by 21.5 million, or about 13 percent.[26] So, while some manufacturing jobs were lost, overall unemployment actually declined slightly over that period despite an increase in job seekers. New jobs in new fields were created by automation. Somebody had to operate the machines, build and maintain them, and transport them to foreign countries. This is the nature of automation: It focuses on eliminating the more tedious tasks, freeing up time, labor, and resources for other pursuits.