Despite widespread fears that artificial intelligence and automation will create mass unemployment, job losses due to technology are at historic lows, according to an analysis published Monday by the Information Technology and Innovation Foundation.

The stats: Levels of occupational churn in the United States — defined as the rates at which some occupations expand while others contract — are lower during this decade than at any point since the 1850s.

Expand chart
Data: Information Technology & Innovation Foundation; Chart: Andrew Witherspoon / Axios

Sound smart: Despite the potential for unprecedented labor-market displacement brought on by recent developments in artificial intelligence, a central problem of the economy today is actually too little displacement, as evidenced by statistics showing slow productivity growth. Without gains in productivity that result from the application of new technologies to business, the value an individual worker produces can't rise significantly, and that means that his wages likely won't rise, either.

Go deeper

Dion Rabouin, author of Markets
19 mins ago - Economy & Business

The holiday shopping season will now begin in October

Illustration: Eniola Odetunde/Axios

Amazon's decision to move its Prime Day to Oct. 13–14 this year will pull the whole holiday shopping season forward by more than a month and help make online retail bigger than ever, as more families shop electronically and jostle to get presents purchased ahead of December holidays.

Why it matters: The reality of the coronavirus pandemic pushing people toward e-commerce combined with the pull of Amazon Prime Day and the Christmas shopping season this year are setting up a bonanza for retailers — but only those with the ability to offer steep discounts, delivery and an attractive online platform.

Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:45 a.m. ET: 34,010,539 — Total deaths: 1,014,958 — Total recoveries: 23,662,200Map.
  2. U.S.: Total confirmed cases as of 7:45 a.m. ET: 7,234,257 — Total deaths: 206,963 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Alarming vaccine skepticism. Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.

America's nightmare foretold

Illustration: Sarah Grillo/Axios

President Trump made it clear at the debate that he’ll continue to call the results fraudulent — and contest the outcome in key states — no matter how wide the margin. That’ll be amplified by a massive amount of disinformation, even though the platforms are trying to curtail it.

Why it matters: Back in 2000, we didn’t know Bush v. Gore was going to happen. We know this is going to happen.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!