Q3 Unit Labor Costs Decline To -0.70% YoY As Retail Landscape Changes (With Robots)

By Anthony B. Sanders

The title from Quartz says it all: “There are 170,000 fewer retail jobs in 2017—and 75,000 more Amazon robots.”

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As more and move firms move to robots in effort to reduce costs and increase efficiency, we are likely to see further declines in unit labor costs in business.

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The decline in big-box retail stores (and their closings) demostrates the paradigm shift in American employment.

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I often wonder how long it will be before universities go mostly to on-line teaching to avoid the problems of some faculty teaching 20 year-old material from graduate school and using stale Harvard/UVA business cases? It is just a matter of time.

A scene inside Jeff Bezos’ Amazon warehouse.

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