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Technology Aided by Recession

In the New York Times, an article known as “Technology, Aided by Recession, is Polarizing the Work World” was published to discuss the issue of jobs disappearing as a result of automation and robotics. Essentially, many “middle” jobs, such as factor work, sales and bookkeeping, etc. are shrinking due to automation and robotics taking over.

While highly skilled jobs, including doctors, software developers, etc., as well as service jobs including hairdressers, daycares, etc. continue to thrive; the jobs in the middle are disappearing at a rapid rate, which is one of the primary reasons for the economy’s sluggish climb out of the recession.

Fortunately, there are still many jobs that cannot be outsourced or automated completely, such as electricians and mechanics. However, the economy continues to decline due to two important concepts:

  • Convenience economy: Instead of buying houses and cars, many people are starting to rent houses and cars for convenience.
  • Sharing economy: Instead of paying for a hotel or rental car, many people use sharing services, such as airbnb.com, to rent hotels and cars from others.

These concepts have huge impacts on various industries, including hospitality, real estate, and various others. And as technology continues to advance, chances are, a lot of people will move into different career paths every few years as the demands of the economy change.

To learn more about technology’s impact on the economy, give us a call at (831) 753 -7677 or send us an email at info@alvareztg.com. Alvarez Technology Group can help you stay up-to-date on the latest information technology news!

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