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Briefing
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- New Labor Market Study – New National Bureau of Economic Research (NBER) study, published by MIT’s Daron Acemoglu and Boston University’s Pascual Restrepo, analyzed effects of industrial robots to U.S. labor market between 1993 to 2007
- Industrial Robot Definition – Fully autonomous machines that do not need human operator and can be programmed to do manual tasks
- Increase in Robots – During 1993 to 2007, stock of robots in U.S. and Western Europe increased fourfold, resulting to loss of 670,000 jobs in U.S.
- Reduced Employment and Wages – Every additional robot per 1,000 workers reduces employment rate by 0.34 percentage points, displacing 5.6 workers, and cuts wages by 0.25-0.5 percentage points
- Manufacturing Most Affected – Effects on employment most evident in manufacturing, and industries with routine, manual, blue collar and assembly-related occupations
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Accelerator
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Market Disruption
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Sector
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Industrial Manufacturing, Information Technology
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Organization
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National Bureau of Economic Research
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Source
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Dvorsky, G., "Robots are already replacing human workers at an alarming rate",
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Acemoglu, D. and Restrepo, P., "Robots and Jobs: Evidence from US Labor Markets",
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Condliffe, J., "Actually, Steve Mnuchin, robots have already affected the U.S. labor market",
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AcceleratingBiz analysis
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Original Publication Date
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March 28, 2017
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