'I do think there is this gig economy that shafts people. You don't do as well,' CNBC's Jim Cramer says.
. By 2027, more than half of the country's workers are expected to be working independently.
The widespread adoption of technology across the economy is defying conventional wisdom and keeping wages down, Cramer argued. "Automation, digitization. That's doing it," Cramer said, arguing that it's not just entry-level positions in the service sector being replaced, but also people who make between $80,000 and $120,000. "That's what's happening."by the Federal Reserve Bank of San Francisco that analyzed the impact of automation in the U.S. economy.
"The steady decline in the relative prices of robots and automation equipment over the past few decades have made it increasingly profitable to automate," researchers wrote. "In this environment, workers may be reluctant to ask for significant pay raises out of fear that an employer will replace their jobs with robots."
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