The fear over robots taking American jobs becomes more and more real every day, and in a new report, the White House details just how real that threat is.
Steve Goldstean D.C. bureau chief for MarketWatch, writes that the Annual Economic Report for the President found there's an 83% chance automation will take over jobs making below $20 an hour, and a 31% chance it will take over jobs making between $20 and $40 an hour.
Traditionally, innovation leads to higher income, more consumption and more jobs, but the question is whether the current pace of automation may in the shorter term increase inequality.
One study found that higher levels of robot density within an industry lead to higher wages in that industry, the White House notes. However, that could be because the absence of lower-skills biases wage estimates upwards.