There have been hundreds of articles written about a wave of unemployment arising from the widespread automation of work. However, US labor statistics show that currently there are more job openings than there are job seekers. There have also been 3.6 million people who voluntarily quit their jobs. In April, the number of job openings (6.8 million) was more than the number of job seekers (6.3 million. The cap on employers filling jobs has been a lack of qualified workers.
This indicates millions of people are able to job hop for an average 3.6% raise in pay. It also means that there is a window for people to try to switch to more automation proof careers and jobs.
If you are in a driving job or retail checkout then you know it is only for a few more years
It is well known that driving jobs the earliest waves of automation unemployment from the deployment of self-driving cars and self-driving trucks.
Financial analysts are projecting that Waymo (Google’s Self-driving car company) could have a fleet of 1.5 million autonomous vehicles by 2030 (RBC Capital Markets analyst Mark Mahaney). This business could generate $1.9 billion in annual revenue with an operating loss of $1 billion by 2022. It could generate $65 billion in annual revenue with an operating profit of $20 billion by 2030. He sees break-even on an operating-income basis in 2025.
Waymo has ordered about 82,000 vehicles from Fiat Chrysler Automobiles (FCAU) and Jaguar Land Rover Automotive in the last few months.
In addition to supplier partnerships with Chrysler and Jaguar, Waymo also has partnerships with Honda Motor (HMC), ride-hailing service Lyft and rental-car firm Avis (CAR).
There will be growth and new jobs but a lot of hustling to try to make the shifts
Save money, get experience in a safer career and avoid debt
The waves of layoffs from AI automation will come in the years ahead. If you have a side hustle, try to own the relationship with customers.
Avoid depending upon a job or career where the robots are clearing coming (driving, retail checkout).