Robots Are Slashing U.S. Wages and Worsening Pay Inequality

[jmyrlefuller]

https://www.bloomberg.com/news/articles/2017-03-28/robots-are-slashing-u-s-wages-and-worsening-pay-inequality?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

by Jeanna Smialek
March 28, 2017

Robots have long been maligned for job-snatching. Now you can add depressing wages and promoting inequality to your list of automation-related grievances.

Industrial robots cut into employment and pay for workers, based on an new analysis of local data stretching from 1990 and 2007. The change had the biggest impact on the lower half of the wage distribution, so it probably worsened America's wage gap.

Today's economic research wrap also looks at labor market slack, student loan defaults in times of crisis, and where rates might be headed in coming years. Check this column every week for new and interesting studies from around the world.

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[bigheadfred]

I think this is only a temporary thing. When augmentation kicks in people will be able to download robotic skills into their brains and be able to do the things robots do as well as a metal one. Plus factor in that people are more transferrable so you can place them more efficiently. Need a couple of temp robots in shipping? Pull a couple out of the secretary pool. Easy.

[GtHawk]

I expect unions to demand that all robots be paid a comparable wage to the human analog and required to join the appropriate union and pay dues, the fed and state governments will support the demand because they will be be able to collect taxes on the robots wages. Instead of health care it will be required that the robots be awarded a maintenance and repair policy, plus paid refurbishment time not less than the paid vacation time of the human analog.