I know of people who were laid off in 2023. It took them 3 to 6 months to find jobs. Some had professional jobs and have had to downgrade to retail and food service jobs to get income.
Hiring mangers are now getting sometimes 1000 to 10000 people applying for professional skill set jobs. In the past few years some states are pushing the concept of basic universal income. These states are Alaska, North Carolina, New Jersey, Pennsylvania, Iowa, and California. There are a total of Over 80 cities across 29 states that have these programs for low income people. Do you all think with generative ai (artificial intelligence) systems, automation, and robotics that universal basic income will be implemented on a more wider scale due to massive job losses coming in all types of job fields ?It’s much closer to reality than you realize. I recently watched one single person that pulled up to a construction job site with a machine towed behind a 1ton pick up truck that made the rafters and joists for the roof of a house. It did it to the blue prints specifications and it made each one in about 5 minutes. Then with another robotic arm. it stacked them where the construction manager wanted them.
The guy running it said they are working on a robot that can frame an entire house in a day! 😳
The seismic shift robotic manufacturing will cause will be stright out of science fiction and it will happen before this decade is out.
I think AI is overhyped. They overhype things, like electric vehicles. Now some car companies are walking away from EV. There's also the prospect that China will undercut any EV production, throwing more American autoworkers out of work. No help from China Joe on that, though. But the Union bosses will still vote for the fossil.
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As for house framing, that's one of the faster parts of home construction. Most trusses come from the factory now and aren't built on-site. You still need tradesman to do HVAC, plumbing, electrical, roofing, siding, flooring, drywall, painting, carpets, cabinetry, etc.
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Now as to UBI, the aging population in the US is actually resulting in a labor shortage. Beyond trying to replace voters with illegals as a Democrat lock, they also are trying to bring in workers to keep wages low.
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I'd say the net result isn't yet clear and I don't think it will be clear in the immediate future, whether we are underpopulated or overpopulated. Elon Musk thinks the world is becoming underpopulated.