USA HISTORY

Detailed explanation-1: -It is a key type of structural unemployment.” This means the substitution of humans with technology will result in technological unemployment. It is the type of structural unemployment where the economy changes with the demands for workers due to the introduction of new machinery.

Detailed explanation-2: -Low-skill (high-skill) automation corresponds to tasks performed by low-skill (high-skill) labor being taken over by capital. Automation displaces the type of labor it directly affects, depressing its wage. Through ripple effects, automation also affects the real wage of other workers.

Detailed explanation-3: -Technological unemployment is the unemployment that results from the introduction of new technology into the economy. It can be caused by the replacement of workers by machines or the automation of tasks that were once done by workers.

Detailed explanation-4: -Industrial automation will not lead to mass unemployment GlobalData’s report, ‘The Future of Work – Thematic Intelligence’, notes that robots will perform more and more tasks in repetitive roles such as in warehouses, hospitals, and retail stores by 2030, leading human workers to shift towards more creative roles.