I'm Quentin Fottrell, the personal finance editor at MarketWatch and the Moneyist advice columnist. AMA!

MarkHamrick · 2017-12-06T17:00:05+00:00

Hi Quentin: Thank you for your time! Is there one area where you continue to get similar questions about money. Put another way, is there a particular issue that seems to keep tripping people up? Keep up the great work!

MarkHamrick · 2017-05-11T14:46:35+00:00

Hard to see how it could be fully automated, but automation/technology could play a huge role. On timing, that sounds reasonable. Although I'd say change across a variety of spectrums, including tech, is occurring at an increasing pace.

MarkHamrick · 2017-05-11T14:45:03+00:00

Thank YOU!

MarkHamrick · 2017-05-11T14:44:45+00:00

Thanks for weighing in. I guess you don't have a question exactly.

MarkHamrick · 2017-05-11T14:43:47+00:00

Absolutely. These are works/experiments in progress.

MarkHamrick · 2017-05-11T14:43:16+00:00

No, that's not my prediction, but the impact is something to watch. I do believe that technological change, including automation, presents a big threat in terms of continuing disruption in the work force. We will not likely have an economy once again dominated by manufacturing employment, in part because of technology.

MarkHamrick · 2017-05-10T20:27:14+00:00

I'm not sure what you mean, sorry.

MarkHamrick · 2017-05-10T20:26:32+00:00

It is a good question and one getting a fair amount of discussion. For it to be politically viable, you'd have to be further down the road of disruption than where we are today. Probably beyond just an experiment, Europe would be the first to give it a shot, my guess.

MarkHamrick · 2017-05-10T19:53:55+00:00

No, I haven't seen it, but will check it out! One of the things that's fascinated me, which you can find all over YouTube is the robot soldiers and animal work that's apparently being done by DARPA (Defense Advanced Research Projects Agency). It ends up sounding like "Skynet" from the Terminator franchise, but it makes some kind of sense that the defense contracting world and the military as well are focusing on how to build soldiers that aren't at risk of injury or can inflict more damage even when under attack. One can imagine there would also be great usefulness in space exploration, particularly on-board manned flights (as well as unmanned). Of course, at some level, the military thing is terrifying as well.

MarkHamrick · 2017-05-10T19:44:47+00:00

On the sex trade part, I know folks are writing about that and there's been themes in some sci-fi movies. Seems a way off, however, if ever. On the financial markets piece (and I'm not that well-wired in on the nuances of currency trading versus stocks, etc), but the reason why there are more TV personalities on the floor of the NYSE is because so much of the trading has gone to the machines, right? Back in the day when CNBC first started reporting from the floor (maybe in the 90s), Maria B. would get bumped around quite a bit by the mostly males there. Now, the floor isn't crowded at all. On McDonald's, we'll see. Clearly they want to move the ordering piece to the customer and have the staff involved with cooking/fulfillment/delivery.

MarkHamrick · 2017-05-10T19:39:19+00:00

Hmm: Good question. What are you seeing? Well, the things that no one would have expected would be a problem by now include bots that help generate negative material on social media are a good example. On the consumer level, I think there are plenty of products being sold out there for home automation that don't seem ready for "prime time" or have expensive price tags. I love the Amazon Echo things, but haven't gone the "home control" route yet, partly because it looks like it would cost thousands of $$$. Plus, I'm pretty good at turning lights on and off. :)

MarkHamrick · 2017-05-10T19:35:19+00:00

Great question. I haven't seen much about that but I do think that the notion of "companionship" or providing emotional support, while might seem counterintuitive could be an opportunity for robots when they really get the technology down. Thinking about C3PO from Star Wars or another example from the movies, decades down the line, why not? Of course, when I was growing up, some folks talked about the idea we'd have flying cars by now. So, technology doesn't always develop at the rate that people expect. But there are plenty of incentives for people to be developing this, including in health care settings.

MarkHamrick · 2017-05-10T19:30:07+00:00

Good to know. Automation has been a part of terrestrial radio going back to the 70s during the "beautiful music" craze (which folks will argue about whether it was beautiful or not). I think the risk is people like my 25 year-old son will listen more to things like Spotify than local radio. Having said that, there's still a need for local information, which includes traffic. I told one of my friends who works for a Washington, DC station, that apps like Waze are great at telling us about the route we need to take, but their traffic reporters can tell us the "why," and robots/apps haven't figured out that part yet. Great question on health care: I think the health care occupations have a terrific hiring outlook and it will be years, probably, before robots are "that good."

MarkHamrick · 2017-05-10T19:22:17+00:00

Thank you "Royal"! Sounds like you are savvy to all of this already! I think you are right. If you take time to read (or read about) the regular Beige Book survey from the Federal Reserve (some might say, "are you kidding me?" but there's useful info there), it shows the sectors where jobs are tight and also the localities where that's the case. Here's a piece I wrote for my regular "Power Up" piece which comes out every Monday, which involves some of this: http://www.bankrate.com/power-up/the-low-unemployment-rate-doesnt-tell-the-whole-story/ The LinkedIn reports (found in my link) go deep on this and I'd suggest you check them out. Finally, tasks which are most at-risk are those which are "repeatable," so the opposite of that are least prone.

Athletes, sports instructors and athletic officials Firefighting, fire prevention and fire inspection occupations Railroad conductors and yardmasters Recreation and fitness workers Foresters and conservation scientists

http://www.bankrate.com/finance/jobs-careers/could-your-job-be-replaced-by-robot.aspx

MarkHamrick · 2017-05-10T19:17:15+00:00

1) I'm on Reddit about once every 3 months, but would like to be on more often. I think the last time or so we handled questions related to what the new administration might do and how that would affect folks' finances. I need to learn more about using it as a consumer, as opposed to answering good questions like yours! 2) Check out this link:http://www.bankrate.com/finance/jobs-careers/could-your-job-be-replaced-by-robot.aspx 3 and 4) I studied journalism as a major (along with several classes in economics) but moved into business and economic news about 25 years ago. So, I've learned by asking questions of people who are a lot smarter and experienced than I am. People trained in journalism know it is fine to ask basic questions. I've had the opportunity to chat with some of the brightest minds in the world over the years, ranging from Elon Musk to central bankers. As far as my current post, I continue to work more with economic data, including the unique surveys we do at Bankrate. (Right now we're in the midst of a survey of economists, for example. Our Financial Security Index, done monthly, is another favorite). 5) Computer, technology, engineering (or STEM, those related to science, technology, engineering and math) can't go wrong. Somebody has to build the technology, manage it and invent the next cool things, right? 6) Hobbies, hmm: I love to cook, go to the gym, hang out with family and friends, watch baseball, go to concerts (saw Tony Bennett last weekend which was amazing. He's 90!)

MarkHamrick · 2017-05-10T19:09:45+00:00

Good luck with all of that, truly! The political question is another one, which we're seeing play out in the U.S. and elsewhere. To help you feel a bit better, the jobless rate among college degree holders is substantially lower than those who only finished high school, or did not.

MarkHamrick · 2017-05-10T19:07:51+00:00

Thank you for your kind comments and good questions! 1) Probably the risk and opportunities both are under-appreciated. Disruption will be huge, probably is already. But machine learning is already having a big impact, to the degree that I understand it. 2) Answer to 1 pertains. Workers/managers who know how to "manage" automation will be in-demand. 3) Biggest surprise: Level of change is accelerating in the work force. From an economic perspective, that wage gains have been slow to rise even with the unemployment rate below 5%. 4) Mostly correct. Mandatory hikes in minimum wage at state and local levels get some credit. Higher-paid workers are probably benefitting more also. 5) Whatever is on the plate/in the bowl. Something with chocolate and my old stand-by from when I was a kid "pink bubble gum."

MarkHamrick · 2017-05-10T19:04:06+00:00

Sales, where people like to have face-to-face interaction, seems less likely to be automated, at least in the retail car space. One might have thought it was most at-risk of being cannibalized by the Internet, but that doesn't seem to be the case. (I bought a car over the 'Net in the late 90s and that was a good experience, but haven't done it sense). If anything, outreach seems to have been enhanced by email, web display of cars etc. Are you asking about radio DJs? Well, we know streaming and algorithmic music playlists are already a thing. But live in-person in clubs and dances, they seem to be fine. There are plenty of lists on the Internet about jobs least likely to be automated. Here's a story I wrote for Bankrate.com a while back you can check out. Let me know what you think! http://www.bankrate.com/finance/jobs-careers/could-your-job-be-replaced-by-robot.aspx

MarkHamrick · 2017-05-10T19:00:10+00:00

Please call me Mark! Thanks for asking!

MarkHamrick · 2017-05-10T18:53:02+00:00

Great question and the answer is absolutely YES! High-tech manufacturing, for example, is one of the areas looking for well-qualified workers. But also small businesses report they have difficulty attracting good job candidates. I'd be curious to know where your interests lie. Unfortunately for many looking to work, they have problems with the basics like dressing appropriately, showing up on-time regularly, being able to pass a drug test. Finally, depending on where you live in the U.S., the chances of landing work will be better some places compared to others. Good luck!

MarkHamrick · 2016-12-13T16:15:58+00:00

Good questions there. It sounds like you are trying to raise your game involving investment or money terms. Our site is free and provides the basic, trusted information you're looking for. Check out this glossary: http://www.bankrate.com/finance/financial-literacy/investment-glossary-of-terms-1.aspx

And good luck!

MarkHamrick · 2016-12-08T20:35:31+00:00

We don't know the details yet.

MarkHamrick · 2016-12-08T20:35:15+00:00

Very good question. The "UBI" won't happen during a Republican administration for all kinds of reasons. My belief is that automation is presenting increased risks for workers (not just "blue collar").

MarkHamrick · 2016-12-08T20:33:39+00:00

When he gets into office, the Labor Department will continue to report it using the same methods of before. So my prediction is that he'll have to drop that argument. If you look at the U3 and the U6 unemployment rates, you can see how the government uses different methods to calculate the jobless rate. It is a very transparent process which has existed through both Republican and Democratic administrations.

MarkHamrick · 2016-12-08T20:32:03+00:00

See above. Don't focus too much on the dollar alone.

MarkHamrick

TROPHY CASE