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How The Economic Challenges and a Constantly Rising National Debt Has Continued to Threaten Job Security

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Table of contents

  1. Introduction
  2. Discussion
  3. Conclusion

Introduction

Many Americans feel threatened due to questionable job security brought on by economic issues and steadily building national debt. We have all heard the outrageous statistics of unemployment and the never ending battle of who is responsible for this in the first place. While some factors may play a major role in the reasons behind layoffs and vanishing positions, there is another factor that will change everything in the next couple decades.

The increasing use and growing reliability on technology has opened up many financial opportunities for business. However, it also has resulted in the working class having to face possible job loss and permanent withdrawal of specific occupations. In this essay I will discuss the job positions that are most likely to be threatened, and what precautionary measures we can start taking in order to prevent possible struggles ahead.

Discussion

Recently, I stopped at a gas station and decided to get my car washed while I was there. I was given some options of what services I wanted done. The cheaper, faster, and the most convenient option was to get the automatic wash that was done by a machine, rather than a hand wash that would have cost me double the money, time, and of course, a tip. I try my best to give my money to the local stores or ask for services from family owned businesses, but even I am guilty of using what is more convenient and less expensive.

Unfortunately, the rest of the world is guilty of indulging in instant gratification as well, causing the businesses having to keep up with a largely growing demand. I do not even bother calling to put in a pizza order. I do not have to talk to a human to make an order. I can just simply use an app on my phone, which also gives me security from any misunderstandings from occurring regarding my order. Before you know it, most pizza places will feel the need of providing such services to their customers as well, leading that “phone position” to vanish.

There are many positions that are at risk, as well and it is most likely due to these technologies – “mobile internet, automation of knowledge and work, Internet of things, cloud technology, advanced robotics, autonomous and nearautonomous vehicles, next-generation genomics, energy storage, 3-D printing, advanced materials, advanced oil and gas exploration and recovery, and renewable energy” (Frey, 2013, pg. 27, para. 2).

Jobs soon will start disappearing due to a machine having the same capability of doing the work of a human. Why would we let that happen? Well, it’s the growing demand of “right now “services that we are all guilty of using, and of course, money. It will cost a whole lot of less money to purchase a machine that will most likely pay for itself just within the first year, rather than paying an hourly worker year in and year out for the same performance. It makes sense, but it will also lead our society and economy to an approaching self-destruction.

Frey (2013) specifies, that at the rate we are heading 2 billion jobs will disappear by 2030. That is a very scary thought, but it is not far from the truth. Just by looking at the statistics exhibited in U.S., we can draw a conclusion of what awaits for the rest of the world decades from now. According to Collins and Ryan (2007), “ The U.S. economy is down about 2 million jobs since 2001, despite a government report of 308,000 jobs added in March, 2004…the use of technology requires a shift of behaviors, and consequences. Firms need to view new technologies as a factor that “help” their employees do a better job or to do a job with greater efficiency ” (para. 6).

As we can see, the use of new technology has made us dependent in away, now causing great consequences on majority of the job market. There will, of course, be growth of jobs that are responsible of building and maintaining the new technology and machinery. However, the growth of these jobs still will not outweigh the losses of occupations that have been present for decades and even centuries.

Conclusion

In conclusion, we are slowly destructing the future jobs for ourselves and the generations to come. It seems that more we invent and seek progress in technology, more we find it harder to use it fairly, rather than using it for every major or even simplistic task. It is not worth to appreciate “the convenience” over jobs and well being of all individuals and families in our communities. Technology, by no means is our enemy, but the stable balance needs to be met in order to preserve opportunities for all individuals in our society. Not finding this balance, may lead us to even worst economic issues than we have now – a loss of 2 billion jobs by 2030.

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How the economic challenges and a constantly rising national debt has continued to threaten job security. (2019, January 03). GradesFixer. Retrieved February 9, 2023, from https://gradesfixer.com/free-essay-examples/how-the-economic-challenges-and-a-constantly-rising-national-debt-has-continued-to-threaten-job-security/
“How the economic challenges and a constantly rising national debt has continued to threaten job security.” GradesFixer, 03 Jan. 2019, gradesfixer.com/free-essay-examples/how-the-economic-challenges-and-a-constantly-rising-national-debt-has-continued-to-threaten-job-security/
How the economic challenges and a constantly rising national debt has continued to threaten job security. [online]. Available at: <https://gradesfixer.com/free-essay-examples/how-the-economic-challenges-and-a-constantly-rising-national-debt-has-continued-to-threaten-job-security/> [Accessed 9 Feb. 2023].
How the economic challenges and a constantly rising national debt has continued to threaten job security [Internet]. GradesFixer. 2019 Jan 03 [cited 2023 Feb 9]. Available from: https://gradesfixer.com/free-essay-examples/how-the-economic-challenges-and-a-constantly-rising-national-debt-has-continued-to-threaten-job-security/
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