Is it the Development of Technology that’s snatching the Jobs of People in USA?

The relationship between man and technology is getting sour in one of the richest countries in US. Gone are the days when people used to enjoy inventing new advanced technologies; today it turned into a great setback as the recession hit America is facing another challenge. Most of the people falling unemployed are cursing the advanced technologies which are allegedly taking away the major job opportunities of people. Earlier, more investment in technology was considered to open new opportunities as more man powers would be needed to run them but sadly, it looks derailed as the recent reports say technologies are the major factors of job crisis in USA.

In the last couple of years it has been found USA is struggling to control unemployment because of the widening gap of man and technologies. They totally mistook the improvement in technology sector would avail various jobs in the market but ironically it was not to be so. Most of the people have begun raising their eye-brows suspecting a change in the structure of labor market. In the past, there was no single evidence where the technology revolution had any negative impact over the balance of job markets.  

"Labor and capital are out of sync," said Tyler Cowen, an economist at George Mason University in Fairfax, Virginia. "It seems be a growing and strengthening trend... (and) suggests there is this longer-term structural change."

The labor market in US indicates something wrong about the economic system of America which is all about displacement of jobs from the country rather than the disappearance. Everybody would arguably agree that the development of technologies led to the shift of various jobs relating to engineering to various developing countries where there is a plenty of low costing labor force than US. Therefore, the advancement in technology sector has brought a strong challenge before the country as the technology which reduces the work force because a simple machine can do the work done by ten people which had led to the ouster of labors having no role to play in the organization. However, in order to make a balance the economy must grow at tremendous pace to meet the challenge of bringing stability in the job market in US.