Nearly half of our current jobs will be gone in 25 years

Robby the Robot - Wikimedia CommonsWharton School of Business at the University of Pennsylvania has warned that all the developed nations on earth will see job loss rates of up to 47 per cent within the next 25 years.

The statistic is based on a recent Oxford University study and includes blue and white collar jobs. So far, the loss has been restricted to the blue collar variety, particularly in manufacturing so no one has cared that much as this has been happening since the 1960s.

The new trend is not creating new jobs either. By 2034, just a few decades, mid-level jobs will be by and large obsolete.

So far the benefits have only gone to the ultra-wealthy, the top 1 per cent. This coming technological revolution is set to wipe out what looks to be the entire middle class.

Accountants, doctors, lawyers, teachers, bureaucrats, and financial analysts beware: your jobs are not safe. Soon computers will analyze and compare reams of data to make financial decisions or medical ones. There will be less of a chance of fraud or misdiagnosis, and the process will be more efficient. Not only are these folks in trouble, such a trend is likely to freeze salaries for those who remain employed, while income gaps only increase in size.

Unfortunately the report suggests that it is too late to turn Luddite and break up the machines. Governments will need to sort out some form of retraining, although it is not clear what the nasty fleshy pink lumps can do that robots can’t.