One third of the jobs by 2030 will be gone due to AI and the unemployment rate will match the numbers during the Great Depression. The I T R Economics firm has been forecasting a second Great Depression in the 2030s.
The unemployment rate is calculated by dividing the number of unemployed people by the total number of people in the labor force. So, if the predicted 45 million people lost their jobs, and the total labor force was 164.5 million people, the unemployment rate would be:
(45,000,000 / 164,500,000) * 100 = 27.6%
This would be the highest unemployment rate in the United States since the Great Depression. So, the actual unemployment rate would likely be somewhere between 27.6% and 30%.
Here’s some information about potential financial collapse in 2030:
1. The World Bank warns that global economic growth will slump to a three-decade low per year through 2030.
2. Renowned investor Stanley Druckenmiller sees the potential for a financial crisis centered around 2030.
3. The next Great Depression might start in 2030 and last through 2036 According to a Bankrate survey, economists see a 59% chance of a recession by July 2024