The fear over robots taking American jobs becomes more and more real every day, and in a new report, the White House details just how real that threat is.
Steve Goldstean D.C. bureau chief for MarketWatch, writes that the Annual Economic Report for the President found there's an 83% chance automation will take over jobs making below $20 an hour, and a 31% chance it will take over jobs making between $20 and $40 an hour. Traditionally, workers in residential and commercial construction run along this payment spectrum.
Traditionally, innovation leads to higher income, more consumption and more jobs, but the question is whether the current pace of automation may in the shorter term increase inequality.
One study found that higher levels of robot density within an industry lead to higher wages in that industry, the White House notes. However, that could be because the absence of lower-skills biases wage estimates upwards.
What could robots replacing humans mean for our industry? So far all signs point to the remodeling industry being safe. While some low-skilled work might be replaced by robots, the popular account is that robots will leave people technologically unemployed. However, according to the report many economists say that jobs that require problem solving capabilities, intuition, and creativity are not at risk of being taken over by robots. All of these job traits are characteristic of the remodeling field. This is good news for the remodeling industry, as only a humans can make someone’s dreams a reality.