As baby boomers move into retirement, labor will grow scarcer, accelerating investment in automation technologies. That shift will boost productivity, but the rapid spread of automation may eliminate as many as 20% to 25% of current jobs in the US, setting the stage for a boom–bust cycle.
Related Bain Brief: Labor 2030
Karen Harris is managing director of Bain & Company’s Macro Trends Group and is based in the firm’s New York office. Austin Kimson is director of Bain’s Macro Trends Group and is based in the Dallas office. Andrew Schwedel is a partner in the New York office.