- Impact on unemployment rates might be different than we expect: countries with high robotics and automation have lowest unemployment rates
- Job destruction happens slowly. It took 90 years before automatic telephone switching completely replaced human telephone operators.
- Just like other information technology, generative AI could have positive AND negative impact on productivity.

#llms #generativeai #chatgpt #ai #impact #economics #society #labor #labormarket #economist

The Economist on the economic impact of generative AI.

Article: https://www.economist.com/finance-and-economics/2023/05/07/your-job-is-probably-safe-from-artificial-intelligence
Archived copy: https://archive.is/d3to7

#llms #generativeai #chatgpt #ai #impact #economics #society #labor #labormarket #economist

"Of US workers expected to be affected, for instance, 25% to 50% of their workload "can be replaced," the researchers added." #AI #LaborMarket

ChatGPT and AI automation: 300 million jobs could be affected globally, says Goldman Sachs - CNN https://www.cnn.com/2023/03/29/tech/chatgpt-ai-automation-jobs-impact-intl-hnk/index.html

The long-run, 33 years of monthly data. Monthly #Employment in California Beer, Wine, and Liquor Stores, Jan 1990-Dec 2022. #labormarket #wine #beer #liquor #spirts

This #dataviz by @daniel_laurison D. Dow and C. Chernoff that represents the association between occupational class origin and destination for black and white employed adults in the US reveals that less than 1 out of every 10 black working-class-origin people end up in professional/managerial jobs, compared to 1 out of every 5 white working-class-origin people.
#inequalities #inclusion #LaborMarket #futureofwork
More on: https://journals.sagepub.com/doi/10.1177/2378023120960959

This revealing map prepared by @terence shows how the #population of #Spain is concentrated in the coastal zone with the exception of Madrid and a few other smaller cities, while in the interior of the country the population plummets.
#EspañaVaciada #EspañaRural #Rural #Demography #LaborMarket

#Tech #salaries vary significantly across Europe and the US. The latest State of the European Tech Report 2022 from Atomico includes this insight created by TalentUp.io about this topic.
The stark difference in salary levels for tech gives a hint on the incentives US companies have to open offices in Europe.
#LaborMarket #FutureOfWork

Meals with family and friends are frequent on these dates in Spain. Two usual foods in those festive meals are wine and fish or shellfish. Yet, #GlobalWarming may change this. #ClimateChange is already altering the dynamics of the #wine and #fishing industries, that together employ in #Spain more than half a million people. And those consequences may go further in the future.

#ClimateCrisis #Economy #Agriculture #FutureOfWork #employment #LaborMarket

https://www.futureforwork.com/en/wine-and-fishing-industries/

The brain in Spain falls mainly down the drain.
A thought provoking article by @edans on the talent shortage in #Spain
#LaborMarket #Education #Migrations #Salaries
https://link.medium.com/5PukBEjgUvb

Distinguished persons: Unions break through in 2022 https://www.washingtonpost.com/opinions/2022/12/18/distinguished-persons-labor-unions-2022/ Pro-union sentiment has translated into a record number of petitions to form unions. And petitions translate into successful organizing campaigns #Labormarket

Federal Reserve chair Jerome Powell struck a particularly somber note at his press conference earlier this week when he mentioned that one reason the #LaborMarket is so tight right now is that many workers died from #COVID19.
The role these deaths play in the #economy often gets overlooked, possibly because it's so devastating to contemplate.
#Demography

https://flip.it/d7oEIX The missing workers who are never coming back

https://www.politifact.com/factchecks/2022/dec/14/joe-biden/fact-checking-joe-biden-wage-gains-outpacing-infla/ Joe Biden

stated on December 13, 2022 in remarks at the White House:

“For the last several months, wages have gone up more than prices have gone up

#BidenAgenda #Labormarket #Jobgrowth #economy

U.K. #wages rose faster in October than at any time on record - but still didn't keep up with inflation, according to new data released on Tuesday.
The Office for National Statistics said that average earnings - both with and without bonuses, rose 6.1% on the year, but on average over the last three months, they had still fallen 2.7% from a year earlier when adjusted for inflation, which is currently running at over 10%.
#salaries #LaborMarket #inflation #UnitedKingdom
https://flip.it/-8uok4

According to #linkedin data, the #LaborMarket for people who have been only applying for #RemoteJobs is cooling down very quickly driven by both a slowdown in remote openings and an uptick in the number of people who want more of it.
But still, the market for people who have been only applying for on-site jobs remains exceptionally tight.
#RemoteWork

https://www.linkedin.com/pulse/november-2022-update-labor-markets-remain-resilient-

Yet, in absolute terms the 10 countries with the highest number of foreign-born residents (Immigrants) are:

United States — 50.6 million
Germany — 15.8 million
Saudi Arabia — 13.5 million
Russia — 11.6 million
United Kingdom — 9.4 million
United Arab Emirates — 8.7 million
France — 8.5 million
Canada — 8.0 million
Australia — 7.7 million
Spain — 6.8 million

(UN, 2020 data)

#Demography #Immigrants #LaborMarket #futureofwork

"Why Are Middle-Aged Men Missing From the Labor Market?"
#LaborMarket #MiddleAgedMed #JobMarket #EconomicDownturn
https://www.yahoo.com/news/why-middle-aged-men-missing-152725206.html

Good article capturing the complex / confusing nature of the current US economic indicators. Typically most things are moving in a similar direction. These days, not so much.

[by good article, I mean it is suited for someone like me that likes to understand basics of what is happening in the economy, but I'm not an economist or finance type]

https://www.vox.com/the-goods/2022/12/2/23486024/economy-inflation-jobs-report-gdp-stock-market-recession

#economy #labormarket #inflation #housing

Do you want to Understand more on #EuropeanUnion #integration of #labormarket with #biparite #networks!
Read our Paper on
PNAS NEXUS

Thank you to
Balázs Lengyel, Lars-Fredrik Andersson, Rikard Eriksson.

https://academic.oup.com/pnasnexus/advance-article/doi/10.1093/pnasnexus/pgac262/6831654?utm_source=authortollfreelink&utm_campaign=pnasnexus&utm_medium=email&guestAccessKey=221f2a2c-8e31-409e-8b89-e80a7f7f08bf