Azeem's end note
At Transform.AI in Paris, I got a chance to walk with Jed Kolko, the chief economist of Indeed.com. Jed has access to vast troves of data--Indeed is the number one job site in the world with 200m monthly visitors.
He shared some of his perspectives on workforce changes in the face of the industrial shift, platform work and automation, as we looked for family gifts.
Jed’s observations are worth reading in the context of the automation stories at the top of this week's EV:
The US labour market is incredibly tight right now. There are more job vacancies than there are job seekers. This means the impact of automation may be attenuated. However, transition remains difficult. Workers face barriers to mobility: high housing costs prevent people from moving to many places where jobs are plentiful, and licensing and regulations can make is harder to enter some occupations.
Gigworkers (like uber drivers) have yet to show up in US labor statistics. This is either because of mismeasurement or because, despite the hoopla, they aren’t really that relevant in the economy today. One early conclusion: older workers are the gig economy. They're far more likely than prime-age and young adults to be in such alternative work arrangements.
Lack of competition might reduce workers' bargaining power. The rise of non-compete clauses and the local market dominance of some employers can limit outside opportunities for workers.
Jed is a super-smart guy whose twitter feed is worth following, especially if you are interested in a US perspective of automation’s impact on work.
This week was crazy busy with CogX and travel, normal service will resume next week ;)
Hasta la vista,