More jobs are lost to automation than trade: Money in Your Pocket

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Most of the estimated 68 million gig workers choose the freelance lifestyle for better work-life balance. But nearly 20 million of them do it out of necessity because they can’t find better work or pay, according to a report by McKinsey Global Institute, a consulting firm.

There has been a lot of talk recently in Washington about jobs being sent overseas. 

And, there’s no doubt about it that happened. 

In particular, we’ve seen manufacturing jobs migrate out to Mexico, China, and other parts of the world especially when you talk about manufacturing jobs.

But, there’s actually another factor that’s been even more responsible for job losses in the manufacturing sector. 

A recent study took a look at the losses between 2000 and 2010 and researchers discovered that among all of those manufacturing jobs that were lost, only 13 percent were lost to other countries.

The other 87 percent is attributed to increases in productivity in manufacturing – namely computers, talking automation, and robots, among other innovations. 

This is a trend that is not going to reverse, so while it certainly makes some sense to look at trade deals that are out there, one thing we have to keep in mind is technology.

Reagan appears regularly on NewsChannel 9.

If you have a question for him, email TheMorningNews@LocalSYR.com.

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