Robotic Nation Evidence

From this article:

"To a surprising degree, firms seem able to continue identifying and implementing new efficiencies in their production processes and thus have found it possible so far to meet increasing orders without stepping up hiring,'' - Fed Chairman Alan Greenspan

It certainly is not surprising -- it is exactly what you would expect in a Robotic Nation. Someone needs to point Mr. Greenspan toward this blog.

From the same article:

The number of people continuing to collect state jobless benefits jumped to 3.186 million, the highest this year, in the week that ended Feb. 7 from 3.080 million a week earlier.

The insured employment rate, which tends to track the U.S. jobless rate, increased to 2.5 percent in the week ended Feb. 7 from 2.4 percent.

Since record keeping began in 1947, productivity gains have never outstripped gross domestic product when growth was faster than 4 percent, Labor and Commerce Department statistics show.

Productivity, or how much is produced for each hour worked, rose an average of 3.7 percent from 2001 to 2003, almost twice the economy's average 1.9 percent rate of expansion over the same period.

That's a direct result of automation and robots. And the pace is going to accelerate.