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re: AI is taking all our jobs!!! Oh wait...payroll beats estimates at 303K
Posted on 4/5/24 at 10:40 am to MoisterOyster
Posted on 4/5/24 at 10:40 am to MoisterOyster
quote:
The cotton gin didn't take the jobs away it improved productivity. Most technological advances throughout history have led to booming economies, not higher unemploymen
Booms in some places and busts in others. Mechanized agriculture in the turn of the century reduced the need for farm labor in agricultural areas by 90%. It caused unemployment and poverty to EXPLODE in those regions, leading to the great Diaspora of the 1920’s and 1930’s. Many many towns were essentially destroyed and abandoned economically. While this was good for society as a whole, it had lasting negative consequences for millions of people that are still felt today.
Increases in productivity are great if the workers share in the fruits of that increase. However, when all of those gains go to capital who simply automates entire classes of people out of a job, it isn’t always the most positive innovation for everyone. What use is a more affordable product if there are no consumers making incomes to purchase it?
Economies can and must adjust and adapt to innovations that eliminate middle class jobs, but that doesn’t mean there won’t be lasting growing pains.
This post was edited on 4/5/24 at 11:20 am
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Posted on 4/5/24 at 10:40 am to BottomlandBrew
quote:
historically job numbers are revised up just as much as they're revised down.
I count 15 revisions down, including the last 6 in a row and 8 revisions up. In what universe are 15 and 8 equal?
If those are equal, you want to put $1000 on which direction the next revision is? I get down, you get up.
This post was edited on 4/5/24 at 10:41 am
Posted on 4/5/24 at 10:42 am to sidewalkside
That's how many illegals we are letting in every month. I'd check to see if there are any data out there that shows job growth by citizens vs non citizens.
Posted on 4/5/24 at 10:46 am to Tmcgin
quote:
We don’t have a centrally planned economy
Please explain the existence solar, wind, and EV’s. None of them actually turn a profit.
Posted on 4/5/24 at 10:54 am to RogerTheShrubber
quote:
Because AI is definitely taking over certain occupations
It will make certain old occupations obsolete and will create vast new opportunities as well. Evolve or die.
Posted on 4/5/24 at 10:57 am to Masterag
quote:
Please explain the existence solar, wind, and EV’s. None of them actually turn a profit.
Can you comprehend that bad government fiscal decisions does not equal centrally controlled nefarious conspiracy against the country?
Posted on 4/5/24 at 10:57 am to sidewalkside
quote:
AI is taking all our jobs!!! Oh wait...payroll beats estimates at 303K
An establishment puppet is in office, so they've been inflating it, then adjusting it downward when nobody is looking.
A year from now, they will revise this number from up 303k to down 100k. Then blame the 400k delta on a rounding error.
Posted on 4/5/24 at 11:02 am to sidewalkside
It is cleaning our house as I type.
Posted on 4/5/24 at 11:02 am to sidewalkside
[
This post was edited on 5/17/24 at 10:34 am
Posted on 4/5/24 at 11:04 am to Deactived
Who would have guessed OP is a complete tard
Posted on 4/5/24 at 11:11 am to LNCHBOX
quote:
Who would have guessed OP is a complete tard
rant-tard...is what I prefer
Posted on 4/5/24 at 11:12 am to sidewalkside
quote:
Can you comprehend that bad government fiscal decisions does not equal centrally controlled nefarious conspiracy against the country?
Its possible that the central planners are retarded cult members and not actually doing what they believe is nefarious but necessary. They are just wrong.
Not everything is a conspiracy.
It's not a conspiracy to say this admin has attacked oil and gas.
At some point you need to realize your side are socialists that hate private industry.
This post was edited on 4/5/24 at 11:15 am
Posted on 4/5/24 at 11:27 am to sidewalkside
quote:
AI is taking all our jobs!!! Oh wait...payroll beats estimates at 303K
It would be better if AI were cutting into employment enough to make a difference. As long as we continue seeing growth like this, inflation is going to remain high and that means rates are going to remain high (speaking of which, I thought the Fed must be high when they first mentioned the possibility of 3 cuts this year).
Posted on 4/5/24 at 11:55 am to SloaneRanger
quote:
AI doesn't clean hotel rooms or cut and blow lawns.
Yet
If a robot can vacuum a house, it can cut a lawn. There’s some niche Roomba type lawn bots right now, but the technology will be much better in 5 years
Posted on 4/5/24 at 11:58 am to sidewalkside
You can’t look at the numbers and be this dumb. We are losing full time positions and people are having to work multiple part-time jobs to live paycheck to paycheck, with no benefits . This is a disaster on the horizon….
Posted on 4/5/24 at 11:59 am to sidewalkside
How shortsighted do you have to be to start this thread based on one payroll report when we're still in the infancy of AI technology?
Posted on 4/5/24 at 12:02 pm to tadman
quote:
I'd start worrying when the self-checkout works as fast as a cashier.
Sometimes it does. I usually lose when there’s a bagger.
Posted on 4/5/24 at 12:06 pm to CamdenTiger
quote:
This is a disaster on the horizon….
Tell me when there has ever been a time when there hasn't been a disaster of some sort on the horizon???
Posted on 4/5/24 at 12:36 pm to TigerinATL
quote:
Will we grow the economy at insane rates and produce 50% more than we produce now while keeping everyone employed? Or will we keep production as it is now and need a lot less people to power the same economy
I don't think it's that extreme, certainly not over a short time horizon. I actually think the OP's sentiment isn't all that silly. I have paid attention to the subject for the past 10 or so years and used to be way more worried. All the hype revolving around transformers and LLMs went nuts over the past year or so, but Machine Learning has been a field for much longer than that.
One great example is radiology. Seven years ago, Geoffrey Hinton (leading AI researcher who quit Google last year to warn the world about AI), said radiologists would be replaced within five years and that we should stop training them. That hasn't happened, and I'm glad we didn't listen.
My suspicion is that over time, you could see the impacts felt but as you also mention, it could be a productivity enhancer. But industries and companies, even in the economy that is by far the most technologically dynamic of any of the world's major economies, simply don't change that rapidly. So people should be able to adapt. You're going to need humanoid robots with "true" AGI (whatever that really means) for human labor to become truly obsolete across multiple sectors of the economy. That'll take a while to get to, if we even do that before nuking ourselves.
This post was edited on 4/5/24 at 12:38 pm
Posted on 4/5/24 at 12:41 pm to sidewalkside
Amazon Web Services (the cloud service, not the retail side) laid off about a thousand on Wednesday. This after the largest layoffs in company history last year. Surely a sign of a booming economy and outlook
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