When automation takes a job, it means humans have one less job. This view is called the “lump-of-labor fallacy.”

It assumes the amount of work that needs to be done in an economy is fixed and limited.
But in reality, technology increases productivity, lowers costs, frees up capital, and creates explosive growth in new demand.
Software programmers are the profession most affected by AI. Since 2022, the number of software development job postings has declined significantly, but it is now beginning to rebound. The number of job vacancies across the entire U.S. economy also appears to have bottomed out, growing 16% from the recent low.
Hopefully, the “lump-of-labor fallacy” can continue to be effective.