Is it possible for the economy to grow with less jobs?

[Anonymous]

We will absolutely be able to produce more output with less workers in the future.

[Anonymous]

Anonymous wrote:We will absolutely be able to produce more output with less workers in the future.

Each worker will definitely be shorter.

[Anonymous]

I’ve worked for a couple of companies that have successfully “reshored” US manufacturing at a competitive level. In order to do that, the facilities are highly automated. But, they do add to the GDP and they do employ some people- just not at the level they would have 50 years ago.

My current company has manufacturing facilities that are basically sealed rooms. Highly precise and efficient but not heavily manned.

[Anonymous]

Anonymous wrote:Fewer, not less

Yes, OP shouldn’t be applying for any jobs that involve writing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We will see in the years to come. Let me give my company as an example. I have been with them for 20 years. We have shrunk by 30% in that time and at the same time produced more output.

The Wall Street Journal recently ran an article which stated that a lot of companies are increasing their output while decreasing the number of employees. AI is allowing companies to do more less employees.

Smoke and mirrors. If they were truly more productive then they'd generate more profit which would lead to more demand for goods and services with would lead to more employment somewhere.

[Anonymous]

How do companies get more profit if their consumers are unemployed?

Why is the discussion always around employee numbers rather than consumer numbers in regards to the effects of employment on GDP?

[Anonymous]

Who’s buying the widgets then if fewer people have jobs? The employed people just keep buying more and more widgets? Seems like a shrinking employed consumer base is going to be a no?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We will see in the years to come. Let me give my company as an example. I have been with them for 20 years. We have shrunk by 30% in that time and at the same time produced more output.

The Wall Street Journal recently ran an article which stated that a lot of companies are increasing their output while decreasing the number of employees. AI is allowing companies to do more less employees.

Smoke and mirrors. If they were truly more productive then they'd generate more profit which would lead to more demand for goods and services with would lead to more employment somewhere.

We're going to enter a transitional period with winners and losers and people caught in the wrong place at the wrong time.

My grandfather spent his entire career working for one plant in a small town in Pennsylvania, the classic small town factory. He was in the "office," the people who ran the plant and was the senior engineer overseeing all the engineering works. In the 1950s-60s when my father was growing up, the plant employed 50 people in the "office" and 1,000 men on the floor. By the time I was a kid in the 1990s, the office had grown to 200 people, but the floor shrunk to 200! All due to advancement in technology and automation.

I don't know what the numbers are now but the plant is still there. And despite this massive decline in manufacturing/industrial numbers, the US economy only grew. I can see AI making us more efficient and wealthier, which will be used to stimulate demands in other and even new economic areas. It's just the transition to that which is going to affect a lot of people in the meantime.

[Anonymous]

Anonymous wrote:Is it possible for the economy to grow with less jobs? In other words, can the economy keep growing by employing less people?

well considering 80 percent of remote people have more than one job we already have more jobs than people

[Anonymous]

Anonymous wrote:We will absolutely be able to produce more output with less workers in the future.

You mean people?

Then what are the people going to do?

Do we care?

[Anonymous]

Is the OP asking if the more people will be better off if more people are unemployed?

[Anonymous]

Anonymous wrote:Is the OP asking if the more people will be better off if more people are unemployed?

I think OP is referring to the fact that job growth numbers are slowing but unemployment is staying even due to reduced immigration. So less job growth but less population growth as well.

[Anonymous]

Yes it is possible. However it is not likely.

[Anonymous]

Except the unemployed will not have money to spend. Bye bye small businesses.

[Anonymous]

Anonymous wrote:Except the unemployed will not have money to spend. Bye bye small businesses.

This is how the great depression happened. The people got too poor to buy the goods the big companies were producing.