Does Amazon Create Or Destroy Jobs?
December 5, 2017 in Daily Bulletin
Dave Edwards and Helen Edwards looked at the workplace impacts of Amazon:
- By the end of 2017 Amazon is expected to have increased its workforce by 147,000 employees – a remarkable 43% increase.
- Yet overall employment in the areas of retail that Amazon competes in (think book stores instead of gas stations) will decline by 24,000.
- This is likely because as Amazon grows its operations, people increasingly choose to buy from its stores, rather than brick and mortar ones.
- The stock market reflects this. Amazon’s stock is up about 60% this year – while the S&P Retail Index has remained stable.
- There is one category of worker that Amazon has done wonders for: robots. By the end of 2017 it is expected to have added 75,000 new robots to its workforce.
Read more on Quartz.
Join the Discussion! (No Signup Required)