The American economy has been gaining strength for several years, yet we've recovered less than half the jobs we lost. Many say this is because businesses don't want to spend the cash to hire. Others blame it on companies shipping jobs to cheaper hands overseas. But according to an analysis by The Associated Press, most of those jobs have completely vanished, perhaps for our lifetimes, because of tech that's here to stay.
In the past few tight years, companies have been all the more eager to adopt new technology, if it meant shaving off some labor costs. This has happened over and over again since the industrial revolution; technological advancements lead to bouts of higher unemployment. But in the end, new and more sophisticated jobs are made, and productivity and living standards rise.