Are ATMs stealing jobs?
Bank tellers have little to fear, but the trend of technological change does partly explain the jobless recovery
By W.W. | IOWA CITY
IN an interview on NBC News, Barack Obama used the example of ubiquitous automatic teller machines to illustrate how technological progress is allegedly impeding job creation:
There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don't go to a bank teller, or you go to the airport and you're using a kiosk instead of checking in at the gate.
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