Self-Driving Cars Could Put 4.1 Million Jobs At Risk

Market Watch: “When the self-driving-car revolution firmly takes hold, there will be carnage, according to Wolf Richter of the Wolf Street blog. Not the car-crash kind — though that is a prevalent fear — but on the employment front… Citing government figures, he says that 4.1 million jobs (the stat of the day in our daily Need to Know before-the-bell column) are at risk, including chauffeurs and drivers of trucks, cabs and ride-share vehicles.”

“The potential savings will outweigh the human cost, as companies fight for profit margins, he explained. Drivers are one of the biggest expenses for transportation companies. And they have to sleep and take vacation. Not so their autonomous replacements.”

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