We already experiencing slow growth and a massive unemployment of folks who have quit looking for #jobs. While EGDP is not declining, millennials stand to make less money than previous generations and ultimately GDP as reflected on main street will continue to suffer. There is no guarantee that the cost of eating out will be brought down by automation. Food costs are the main cost of doing business.
If you have self driving cars, electric cars, automated food service, and the like, labor participation rates will drop even more. Here is a Fred Chart showing just that. Of course the participation rate went up when two people had to work to make it. But now, we are declining even while that economic reality is even more acute: https://fred.stlouisfed.org/series/CIVPART
The No Growth In US Trade Does Matter
I have to agree given the stagnation or relatively minor growth of all economic indices such as #GDP, #jobs report, #imports and #exports.
Domino's Unleashes Pizza-Delivery-Robot As 2 Out Of 3 Americans Expect Jobs To Be Automated
We already experiencing slow growth and a massive unemployment of folks who have quit looking for #jobs. While EGDP is not declining, millennials stand to make less money than previous generations and ultimately GDP as reflected on main street will continue to suffer. There is no guarantee that the cost of eating out will be brought down by automation. Food costs are the main cost of doing business.
If you have self driving cars, electric cars, automated food service, and the like, labor participation rates will drop even more. Here is a Fred Chart showing just that. Of course the participation rate went up when two people had to work to make it. But now, we are declining even while that economic reality is even more acute: https://fred.stlouisfed.org/series/CIVPART