Scott Alexander examines evidence for technological unemployment, finding little current impact but signs of 'technological underemployment' pushing workers to lower-skill jobs.
Longer summary
Scott Alexander examines the arguments for and against technological unemployment, analyzing labor force participation rates, manufacturing job losses, and economic data to determine if automation is currently causing significant job displacement. He concludes that while there's little evidence of technological unemployment happening right now, there are signs of 'technological underemployment' where automation is pushing workers from middle-skill to lower-skill jobs. The long-term impacts remain uncertain, with economists divided on whether this is a temporary adjustment or a new normal.
Shorter summary