Millions of jobs lost when Uber brings out new self driving cars.

 

Driverless cars will create some big winners — imagine how Uber’s and Lyft’s profits will jump when they can keep 100% of fares instead of letting drivers keep 70%. But they will produce some big losers too, notably the 5 million people nationwide — including 600,000 in California — who make their living driving taxis, buses, vans, trucks and e-hailing vehicles. That’s almost 3% of the workforce, according to Lawrence Katz, a labor economist at Harvard. Incidentally, most of these drivers belong to the same demographic cohort as many factory workers — men without college degrees — who’ve already been hit hard by the loss of 5 million manufacturing jobs since 2000.

Read more-http://zackkanter.com/2015/01/23/how-ubers-autonomous-cars-will-destroy-10-million-jobs-by-2025/
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