Pre-Retirees Join Robots In Shouldering Work Burden (Podcast)

by: SA For FAs

Summary

A Bain & Company report called “Labor 2030: The Collision of Demographics, Automation and Inequality” warns that advanced economies are hurtling towards a demographic bust.

However, the ensuing shrinkage of the workforce does not imply higher pay, since automation could eventually eliminate up to 50% of all current jobs.

But robots can’t do everything.

The burden of work may fall on pre-retirees aged 55 to 74, while 18 to 29-year-olds hunker down in a new life stage Bain calls “second adolescence”.

A Bain & Company report called “Labor 2030: The Collision of Demographics, Automation and Inequality” warns that advanced economies are hurtling towards a demographic bust.

However, the ensuing shrinkage of the workforce does not imply higher pay, since automation could eventually eliminate up to 50% of all current jobs, and 80% of all workers in the coming decades will be affected by job stagnation, displacement or a combination of the two.

But robots can’t do everything, and this brief podcast (2:57) suggests the burden of work may fall on pre-retirees aged 55 to 74, while 18-to-29-year-olds hunker down in a new life stage Bain calls “second adolescence."