MIT Economist David Autor’s new research project has shed light on the impact of technology on job creation in the U.S. since 1940. The study, published in the Quarterly Journal of Economics, reveals that technology has replaced more jobs than it has generated, particularly since 1980.
Using a new method that analyzes U.S. census job categories and the text of U.S. patents, Autor and his team found that automation has led to job losses in industries like elevator operation and typesetting, while augmentation has created new roles in areas such as engineering and research.
The research also highlights the growing wage gap in the U.S., with highly educated professionals more likely to work in new, high-paying fields. Additionally, demographic shifts and consumer demand play a significant role in driving technological innovation and job creation.
Looking ahead, the study raises questions about the future impact of AI on the workforce. Autor notes that AI has the potential to both substitute high-skill expertise and complement decision-making tasks, but its full implications are still unknown.
Overall, the research provides valuable insights into the complex relationship between technology and job creation, paving the way for further study and exploration in this important area.