Despite fears that technological advancements will lead to widespread unemployment, that has not been the case historically. In 1900, for example, 40% of US workers were farmers and the national unemployment rate was 5%.
By 1999, only 2% of US workers were farmers and the unemployment rate was 4.2%. But it’s unclear whether this pattern will hold, as algorithms make it increasingly possible for machines to perform high-level cognitive tasks. Beyond the use of robots, technology is also changing how, when and where we work.
What does this mean for the future of employment and the legal issues companies will have to navigate?
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