Automation Set To Threaten Workforce Housing
Walmart, the largest private employer in the United States, announced that it will be automating its supply chain, which will result in more than half of its fulfillment centers operating through automated facilities by 2026.
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The shift towards automation will have a significant impact on the workforce, with Walmart already laying off more than 2,000 workers at five US warehouses.
According to a report by the McKinsey Global Institute, up to 800 million jobs worldwide could be replaced by automation by 2030.
This would lead to a shift in the types of jobs available, with the demand for manual labor jobs decreasing while the demand for jobs in fields such as technology and data analysis increasing.
These are stories that real estate investors need to stay on top of, with so many investors serving ‘workforce housing’, these jobs could see drastic changes in the next decade.
Investing hubs that cater to warehouse workers, manual labor jobs, and retail fulfillment need to start considering putting more weight on job diversification.