Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Why Most Investors LOST Money by Investing in ARK FUNDS - 27th Jan 22
The “play-to-earn” trend taking the crypto world by storm - 27th Jan 22
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Here’s How to Stay Ahead of Machines and AI

Politics / AI Feb 20, 2017 - 04:01 PM GMT

By: John_Mauldin

Politics

BY PATRICK WATSON : The Great American Jobs Apocalypse continues to tear our social fabric, and no one really knows what to do about it. If you’re not unemployed or underemployed now, then you know someone who is… and you could always be next.

I keep coming back to this theme in Connecting the Dots (subscribe here for free). That’s because it’s a monumental, paradigm-changing problem, and it affects all of us.


While I don’t have definitive answers, I managed to put together more of the puzzle pieces.

Work Is About More Than Money

We the People (aka Mainstream America) are angry and frustrated—and we are making our feelings known. The open public discontent has left many economist and politicians flabbergasted: With a historically low unemployment rate of 4.9%, what seems to be the problem?

For most people, work is not just about money...it's also about self-worth. You can be “employed” but still feel unappreciated due to low wages, missing job security, or inability to use your best skills.

The government’s unemployment numbers miss part of the story. They don’t, for example, show how many people aren’t getting enough hours to make ends meet and/or lack job satisfaction. But some recent surveys do.

  • According to a 2016 survey from PayScale, 46% of workers (roughly 22 million Americans) think they're “underemployed”—which is being defined as either working part time or having a job that doesn’t allow them to use their education or skills.
  • A 2016 Gallup poll found that only 32% of US workers are “engaged” in their jobs. 50.8% of employees were “not engaged,” while another 17.2% were “actively disengaged.”

“Not engaged” means employees that are less vigilant, show up and kill time, and doing the minimum required to get the job done. According to the poll, a full 68% of American workers are just going through the motions at their job.

That figure that should give employers pause.

Also, not-engaged or actively disengaged workers always have one foot out the door. Why show loyalty to your company when your employer is ready to kick you out as soon as it has a bad quarter or can find a robot to replace you?

Loyalty—or lack of it—goes both ways. Today, many employers skimp on benefits and wage increases by hiring part-time or temp workers. Hiring full-time employees is their last resort… once they’ve exhausted alternatives like automation, outsourcing, and independent contractors.

This persistent background angst has a macroeconomic impact, reducing productivity, increasing depression, and creating addictive behaviors.

But look around, and you’ll see glimmers of hope.

Coding Is the Next Blue-Collar Jobs Boom

Coal Miner to CoderI wrote a few weeks ago why we shouldn’t call people “low-skilled” workers. It’s demeaning and often just wrong. But, the category exists.,

It’s true that non-college graduate Americans face tougher job prospects. And despite increases in minimum wage in some places, since 2000, the average hourly wage for high school graduates has declined.

Also, factories are automating rapidly, and there are only so many service jobs to go around. They don’t pay like the factories once did, anyway.

But there may be a solution, at least for some.

Last week, I saw an intriguing Wired article titled, “The Next Big Blue-Collar Job Is Coding.” It, which  argues that computer programming is the modern equivalent of those well-paying automotive factory jobs.

Many people think everyone working in tech is a wealthy Silicon Valley type, but most “coders” work in ordinary, non-tech organizations. In fact, any organization business with 50–100 employees probably has at least two or three IT people who work on customizing software to the company’s needs.

Those folks generally make a good living, and there’s lots of room for programmers and graphic designers without college degrees.

All those little teams add up to a lot of jobs—and it turns out, some former blue-collar workers excel at them. Wired mentions a Kentucky program that retrains coal miners as programmers. Miners know how to focus, work as a team, and handle complex machinery. Program Director Rusty Justice says,  “Coal miners are really technology workers who get dirty.”

I’m sure these jobs will get automated too as artificial intelligence improves, but for now, they look like good opportunities for those with the right aptitude.

Hands-On Jobs Are Safest—for Now

There are still other growing occupations that don’t require college degrees. The US Labor Department tracks these in 10-year forecasts. I checked out iIts  Occupation Finder  web tool is pretty enlightening, and .oOne thing stood out: to me: Aa high school diploma, while still necessary, is insufficient for almost anything beyond manual labor. And even the number of those jobs is shrinking.

I searched for jobs at the next step up, requiring only “postsecondary nondegree” education. That means a high school diploma plus trade school or on-the-job training. Those with the highest number of projected new jobs in the next 10 years are:

  • Heavy and tractor-trailer truck drivers
  • Dental assistants
  • Hairdressers, hairstylists, and cosmetologists
  • Licensed practical and licensed vocational nurses
  • Nursing assistants
  • Emergency medical technicians and paramedics
  • Medical assistants

I’m dubious doubtful about the truck driver jobs, given how quickly autonomous vehicle technology is advancing. But the others all make sense. They are mostly healthcare related and—this is key—require hands-on contact with customers.

You can’t get your teeth cleaned over the Internet. It will be a few years before we trust robots to cut our hair. Jobs like those will be among the last to get automated.

Here’s How to Stay Ahead of the Machines

Still, if we look ahead more than 10 years, I think all bets are off. Every job will be vulnerable—including mine. A sufficiently advanced AI could probably process all the information I read every day and compile it into informative articles.

Such technology doesn’t exist now… but I bet it will by 2030.

My response: Never stop learning!

If we want to outrun the machines, we all need to constantly upgrade our skills. We also have to build our investments into another reliable income stream.

That’s what you can read more I about how to do this in my free weekly publication, Connecting the Dots. I also try to keep the journey enjoyable, because I know we all need it.

Subscribe to Connecting the Dots—and Get a Glimpse of the Future

We live in an era of rapid change… and only those who see and understand the shifting market, economic, and political trends can make wise investment decisions. Macroeconomic forecaster Patrick Watson spots the trends and spells what they mean every week in the free e-letter, Connecting the Dots. Subscribe now for his seasoned insight into the surprising forces driving global markets.

John Mauldin Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in