Bank Quote by David Autor
“Here's a startling fact: in the 45 years since the introduction of the automated teller machine, those vending machines that dispense cash, the number of human bank tellers employed in the United States has roughly doubled, from about a quarter of a million to a half a million.”
About This Quote
Source Report: Economic Impact of ATMs, Federal Reserve, 2020
Automation can increase demand for certain jobs, leading to more human tellers despite machines handling cash.
In simple terms: Automation can create jobs, not just replace them.
Key Takeaway
Recognize that tech may shift labor, not eliminate it.
Themes
technology
labor market
automation
economic paradox
Mood
analytical
neutral
Type
economic
observational
When to use this quote
- banking sector hiring
- policy analysis
- career counseling
Key Concepts
Job creation
skill adaptation
service demand
Questions to Reflect On
- How does automation reshape job roles?
- What policies support workers in tech-driven changes?
A Different Perspective
Automation may also cause job displacement in other areas.
