Ohio Industry Analysis 2018
Ohio, like the nation, is transitioning from a manufacturing based economy to a service economy. The Buckeye state remains a manufacturing leader but the number of jobs in this sector have seen a dramatic decline. Trade, transportation and utilities, education and health care, government and professional service jobs all have more jobs in Ohio than […]
Measuring Automation’s Impact on Ohio
Measuring the impact of automation is a critical starting point for a community or company. Determining the potential job and wage losses and gains in a region matters obviously to the community’s economic development and political leadership. It matters as well to company’s considering locating in a region—they need to understand the economic vitality of […]
Automation Impacting the Future of Work
Automation has been impacting work in the United States for over 100 years. The Kennedy Administration pointed to the impact of automation impacting the manufacturing sector starting in the 1950s. Industries like textiles figured out how machines could replace humans and produce higher quality products for less money. Occupations with the highest chance of being automated […]
Automation Transforming the U.S. Economy
Measuring the impact of automation involves a consideration of both macroeconomic and microeconomic measures; however, the critical measure of how automation impacts a regional economy is what regions will gain and lose jobs with this massive economic change. The American economy has benefitted from technological advances. In 1870, almost 50% of American employees worked in […]
Automation is Changing American Industry
The American economy remains the strongest in the world but technology advances are expected to have a major impact on a range of American industries as illustrated by the table below. Source: U.S. Bureau of Labor Statistics Current economic projections see overall job growth in professional services, educational services, and health care while most other […]
Defining Automation
Automation is the technique of making an apparatus, a process, or a system operate automatically and can further be defined as the creation and application of technology to monitor and control the production and delivery of products and services.[i] Recent economic analysis of automation is often tied to “machine learning” or Artificial Intelligence and machine robotics. […]
Data Driven Economic Development
We live in the age of Big Data. The access to massive amounts of data points matched with unprecedented computer power and broadband speeds are transforming the global economy. Who would have imagined that Amazon would have over 300,000 employees at the end of 2018 compared to just 100,000 at General Motors? Automation has been […]