Robots replace workers

Bloomberg authors, Mira Rojanasakul and Peter Coy, writing on a recent study by Daron Acemoglu of MIT and Pascual Restrepo of Boston University:

Robots do replace workers. On the other hand, some industries that don't automate end up losing workers anyway, because their costs are too high and their customers go elsewhere. For workers, robots are only part of the problem.

Of course markets are complicated with many factors that affect industry employment, but we're seeing data from multiple sources that show automation hurts local communities. This chart from the linked article shows that an increase in automation corresponds to a decline in employment within local economies:

If you missed it, see my earlier post on how automation increases productivity and wealth, but unfortunately, these gains are not evenly distributed across all workers.