Self-driving cars could wipe out 4 million jobs — but a new report says the upsides will be easily worth it

markets.businessinsider.com | 6/13/2018 | Staff
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Autonomous vehicles could add $800 billion to the US economy, a new report says.

The report also says the negative effects are being overblown — only about 4 million jobs will be directly impacted.

Report - America - Dependence - Oil - Securing

The report is from a non-profit focused on reducing America's dependence on oil, called Securing America's Future Energy.

Many of the fears surrounding self-driving cars are widely overblown, a newly published report says.

Technology - Plenty - Jobs - Vehicles - US

Even though the new technology could radically re-shape plenty of jobs, autonomous vehicles will likely only raise the US unemployment rate by a tenth of a percent, according to the report out Tuesday from Securing America's Future Energy, a Washington D.C. non-profit focused on reducing American dependence on oil.

"Like many new technologies before it, the public discourse around AVs has witnessed a significant focus on potential downsides, often with considerable exaggeration," the 52-page report said.

Simulations - Impact - AVs - Employment - Range

“Simulations of the impact of AVs on employment showed a range of impacts that would be felt starting in the early 2030s but would only increase the national unemployment rate by 0.06–0.13 percentage points at peak impact sometime between 2045 and 2050 before a return to full employment. Through 2051, the marginal impacts on the unemployment rate will remain quite low when considered from an economy-wide perspective, below the current uncertainty in the monthly Bureau of Labor Statistics (BLS) unemployment reports.”

Still, industries that depend heavily on human drivers are likely to see a bigger impact than the broader population.

Displacements - AV - Adoption - Sector—a - Category

"The displacements induced by AV adoption are predicted to be far larger in the commercial sector—a diverse category,...
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