State Chamber Update
A recent Brookings Institution study identified several job categories that are at “risk of automation”: Food preparation and service had a risk factor of 81%, Office administrative support clocked in at 60%, Farming/fishing and forestry at 56%, and Transportation and material moving at 55%. The researchers state that men, more than women, will be hit harder because they are more likely employed in the fields of transportation, construction, farming and production operations. “Age is another factor,” according to
a story this morning on CNBC
Even though younger people grew up scrolling on screens, they are disproportionately represented in the food and retail industry,” according to Mark Muro, author of the report and Senior Fellow and Policy Director at Brookings. He states, rather affirmatively, “Now the discourse appears to be arriving at a more complicated understanding, suggesting that automation will bring neither apocalypse nor utopia, but instead both benefits and stress alike.”
Policy makers should be keenly aware that the choices they make today could hasten the timing and speed of automation, perhaps years before market forces would otherwise usher in change.
for the Brookings report.
News You Can Use
On Tuesday, Consumer confidence index numbers for January are due. Federal Reserve Chairman Jerome Powell will hold a press conference on Wednesday. Personal income, consumer spending and core inflation numbers for December come out Thursday, and the week will end with January unemployment numbers and motor vehicle sales on Friday.