Technological Unemployment News & Discussions

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Ozzie guy
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Re: Technological Unemployment News & Discussions

Post by Ozzie guy »

US Employment Rate
In January 60.20%
In February 60.20%
In March 60.40%

Australia Employment Rate
In January 64.1%
In February 64.3%
In March 64.4%
I am starting from January 2023 so each time a year passes I can replace months for that year with the yearly average. It is also after covid recovery and before AI has any impact. (I might later include a yearly average for a year such as 2022 or 2019 if technological unemployment happens this year.)

Lowest US has been since 1948 aka covid crash is 51.30

So low 50s = $hit hitting the fan.

https://tradingeconomics.com/united-sta ... Statistics
https://tradingeconomics.com/australia/employment-rate
Tadasuke
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U.S. employment rate from 1973 to 2023

Post by Tadasuke »

U.S. employment rate from 1973 to 2023:

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Global economy doubles in product every 15-20 years. Computer performance at a constant price doubles nowadays every 4 years on average. Livestock-as-food will globally stop being a thing by ~2050 (precision fermentation and more). Human stupidity, pride and depravity are the biggest problems of our world.
Tadasuke
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my view on the situation

Post by Tadasuke »

From what I see, unemployment is down and prices are up. In ordinary day to day life, I don't see technological unemployment or technological deflation (outside very specific items, like a 6-core Zen3, DDR5-6400 or 2 TB SSDs). In fact, mid-range smartphones have now prices of high-end ones from a few years ago. PlayStation 4 Slim is much more expensive than it was in 2019 (about as expensive than Xbox One X was in 2019) and PS5 is twice that. Cars are more expensive. Thai food is 2x more expensive than it used to be. So no, I'm not worried about masses of people being unemployed for a prolonged time.
Global economy doubles in product every 15-20 years. Computer performance at a constant price doubles nowadays every 4 years on average. Livestock-as-food will globally stop being a thing by ~2050 (precision fermentation and more). Human stupidity, pride and depravity are the biggest problems of our world.
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Re: Technological Unemployment News & Discussions

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weatheriscool
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Re: Technological Unemployment News & Discussions

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Insider Lays Off 10% of Staff After Starting ChatGPT Experiments
Source: Gizmodo

The news outlet Insider announced to staff via email Thursday morning that the company lay off 10% of its workforce, including staff writers.

Insider Incorporated president Barbara Peng announced that layoffs in an email to staff this morning that was obtained by Gizmodo and first reported by The Daily Beast. Peng wrote that staff members affected by the layoffs would be receiving a notification 15 minutes after her email to the company was sent. Affected staff will receive 13 weeks of base pay with two additional weeks for each year they worked up to four years, medical coverage through August 2023, and career support services including resume reviews and one-one-ones with coaches.

-snip-

Peng explained in her email that the layoffs would impact the unionized workforce at the outlet, meaning writers would be included in the cuts. Insider’s presidet claimed in her email that management was unable to communicate the layoffs to the union, citing unspecified “union rules.” An Insider employee in the union told Gizmodo that the union was not informed of the layoffs ahead of time and received no opportunity to bargain with management. The Insider Union did not immediately return Gizmodo’s request for comment.

-snip-

Insider Editor-in-Chief Nicholas Carlson announced last week that the outlet’s writers would be experimenting with artificial intelligence. Carlson said in a letter to staff, posted to Insider itself, that the outlet was looking to set up a working group of staff writers to test how to responsibly add artificial intelligence into the company’s workflow with internal applications.

-snip-
Read more: https://gizmodo.com/business-insider-la ... 1850356792
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Re: Technological Unemployment News & Discussions

Post by wjfox »

Ocado to close Hatfield warehouse, putting 2,300 jobs at risk

Tue 25 Apr 2023 09.16 BST

Ocado and Marks & Spencer’s online retail joint-venture is to close its oldest warehouse, in Hatfield, putting up to 2,300 jobs at risk.

Ocado said the orders handled at the warehouse in the Hertfordshire town would be switched to the group’s other automated warehouses, including a new site scheduled to open in Luton later this year. The Hatfield site processes about a fifth of Ocado.com’s 400,000 weekly orders.

The site in Hatfield will close as the facility in Luton, which has newer technology, opens.

[...]

Hatfield was Ocado’s first automated warehouse, opened in 2002. The group has since switched to robot-led picking and packing operations that require fewer staff to operate and are more efficient.

Ocado said: “The latest generation of robotic customer fulfilment centres (CFCs) are consistently achieving well over 200 units picked per labour hour … compared with about 150 for our first generation CFC in Hatfield.”

https://www.theguardian.com/business/20 ... uton-sales


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Photograph: Dylan Martinez/Reuters
Solaris
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Re: Technological Unemployment News & Discussions

Post by Solaris »

wjfox wrote: Wed Mar 22, 2023 3:05 pm
Not worried at all. Even a non-investment banking analysts could figure this out. Don't know who made this in the reddit thread, but he is probably not within the field of business and economics. This is the most basic an analysts would do, and would probably do it while eating lunch. For a LLM to become even remotely relevant in that type of occupation it would need to become an operating system, which can get access to any application that is relevant for the work needed done. It should be able to navigate within these applications based on the inputs provided by the user. This will not happen as of now or the next 10 years (at least not in a large scale). A side note, no one I know within economics are really afraid of being automated at this point in time, but are aware that disruptions are on its way.

In general, im not that impressed by the current LLM's in terms of the scope presented in futurists threads. It seems many people suffers from the same issues that ChatGPT faces. It does not understand the output it presents, and therefore make wrong predictions about the future of humanity.
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Re: Technological Unemployment News & Discussions

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Tech giants aren't just cutting thousands of jobs — they're making them extinct

Matt Turner
Apr 27, 2023, 8:33 PM BST

Big Tech is liking the look of its new leaner shape.

Companies from Meta to Microsoft to Salesforce have cut jobs in recent months, often in the pursuit of efficiency and increased profit margins. By some estimates, more than 250,000 tech workers have been laid off since the start of 2022.

There have been many more roles that have gone unfilled as these industry giants slow down on hiring. Recent data from Indeed shows a more than 50% decline in software-development job postings compared to a year ago.

As my colleague Hasan Chowdhury has written, that strategy is working financially, with Salesforce, Meta, and Microsoft recently reporting stronger-than-expected earning results.

And now, thanks to the rise of AI, many of those jobs may be permanently lost, even as these companies get back to growth.

https://www.businessinsider.com/tech-jo ... ack-2023-4
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Cyber_Rebel
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Re: Technological Unemployment News & Discussions

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So, it begins.

Tadasuke
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the happiness age curve and its implications

Post by Tadasuke »

Based on this happiness curve (available from multiple sources), it would be better for people to not work or to make working entirely optional. Most people would be happier that way (I guess and think so). They could still have hobbies and work inside video games doing what they like more. Those who enjoy working irl, could still work, if they choose and fancy so. :) I hope for such future in the late 21st century or early 22nd century at the latest. At least in the countries which are today better developed (like the EU for example). Currently, we could at least try to make work slightly more comfortable, healthier and better payed. So the average happiness could slightly improve. However, I advise everyone to do some physical exercise, if it's not a part of your job. And to eat and drink healthily. Playing tennis counts as a physical exercise for example. 🙂

Image
Global economy doubles in product every 15-20 years. Computer performance at a constant price doubles nowadays every 4 years on average. Livestock-as-food will globally stop being a thing by ~2050 (precision fermentation and more). Human stupidity, pride and depravity are the biggest problems of our world.
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