I'm only on chapter two right now, but so far everything is sunshine and roses.
Middle-class markets are likely to erode. Many consumer-facing businesses design and market goods based on a three-tier household model, including a small upper-income tier, a small lower-income tier and a broad middle-income tier. Pressure on the middle class may favor a primarily two-tier structure, with upper-income households representing roughly 20% and lower-income households making up the remaining 80%.
Oh boy.
Our analysis suggests that the pace of labor force displacement in the coming decade could be two to three times as fast as during other big transformational periods of labor automation in modern history (see Figure 27). In trying to estimate the coming dislocation, we looked at the peak movement from agriculture to industry and the movement out of manufacturing into services.
Fun.
|
ButterflyEffect: Our analysis suggests that the pace of labor force displacement in the coming decade could be two to three times as fast as during other big transformational periods of labor automation in modern history (see Figure 27). In trying to estimate the coming dislocation, we looked at the peak movement from agriculture to industry and the movement out of manufacturing into services.
I'll have to read this, but from my personal work experience in a large manufacturing company, and from exposure to others who work in large manufacturing companies (including those you might not expect): this is spot-on. Many companies are piloting or building fully or nearly fully-automated factories, and implementing software systems to reduce labor overhead. If you work in manufacturing and want to stay employed in the future, my recommendation is to move into a Maintenance or Engineering role, if possible. Operators and other technicians are going by the way-side.