Climate Change Will Add to Unemployment in Auto Industry

Climate Change Will Add to Unemployment in Auto Industry by Martin Armstrong from Armstrong Economics

The internet reshaped the retail consumer world by eliminating many small stores and forcing big stores to close locations as online shopping exploded. Many small book stores and camera stores were particularly vulnerable. Now climate change is having a similar impact.

The strike with the United Auto Workers’ (UAW) and General Motors is not so much about pay raises. Instead, UAW members are deeply concerned that climate change and electric cars mean less employment. Most other automakers have come to the realization that the internal combustion engine will be replaced by electric vehicles. Exactly how fast, it is hard to say for it also depends on the political rhetoric to win an election.

Electric cars come with fewer parts, which means fewer people are needed for assembly and they are more prone to be produced by robots than combustion engines. Hence, the UAW is more concerned about losing jobs, not the pay increases.

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Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.