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There's a high probability that if the unemployment rate surges, then the Federal Reserve pivots to FULL Q.E./turns on the money printer in expectation of a Recession, and to prevent an actual Economic Depression.
This X post says that "mega layoffs" will start in 18 months.
At a recent dinner I met a very senior engineer at one of the Big Four tech cos.
His team develops tooling for a 0-engineer future.
They're not allowed to tell anyone internally what they're working on to avoid mass panic. He figures mega layoffs start in 18 months.
https://x.com/corbtt/status/1927821116057309685In short, automation as a form of efficiency in work in every industry will definitely be done and yes we know that AI today has entered the world of work that was previously done by humans, innovation disrupts the world of work to get product effectiveness, costs and so on as a measure of budget and time efficiency, as well as closing emotions that can be done by humans, industry players will use ways to minimize their costs to get more profits or reduce expenses, because as we know the costs for labor and raw materials also increase over time.
The QE steps taken by the Fed may be one way to stimulate the economy to keep spinning as expected, but with that the money in circulation will be more and more and that will be an additional inflationary value?