Part 9/16:
He challenges the commonly held belief: “new technology always creates new jobs”. Data shows that labor force participation peaked around 2000, and has been declining since—despite ongoing technological advances. Shapiro points out that more than 23% of the population in the U.S. is not in the labor force; many are checking out voluntarily or due to discouragement.
Furthermore, automation threatens a significant portion of jobs—around 25% are at high risk, with another 35% at medium risk—particularly roles involving routine, computer-based work. While some manual jobs may be harder to automate, caregiving, emotional intelligence, and creative professions are more resilient.