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The Impact of Automation on Human Labor in Minnesota
Aniekan Udoh
Saint Mary’s University of Minnesota
Schools of Graduate & Professional Programs
DBA 800A Global Markets and Resources
Dr. Antar Salim
October 18, 2018.
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Introduction
The purpose of this paper is to discuss briefly on the impacts of automation on human
labor in the state of Minnesota among millennials born between the years 1981 and 1996, which
are currently between the ages of 24-38 years old. The focus on millennials is because most
people in the labor force in the state of Minnesota are represented by this age segment.
According to Weinmann (2014), the White House figures show that millennials make up about
one-third of the United States population. Millennials are more diverse, and they hold a more
relevant perspective in the current employment climate. This translates that any significant
transformation in the labor force for human labor will affect them more than any other segment.
The Demographics for this generation is currently the largest that makes up the labor force of the
United States and for the state of Minnesota, and with the potential of becoming more effective
in productivity through proper educational facilitation and technology that can continue to boost
and uplift the economy of the state (Weinmann, 2014).
According to Mankiw (2012), labor is one of the most important factors of production in
the United States, because human labor accumulates most of the total income earned in the
economy. In Minnesota, millennials make up the highest percentage of that human labor pie,
which helps the economy produce goods and services and in turn increases the GDP of United
States (Mankiw, 2012). The importance of millennials to the global and state economy of
Minnesota can be seen in the percentage comparison with a much older age segment of the labor
force, using baby boomers as a comparison, about Sixty-one percent of millennials have gone to
college compared to 46 percent of baby boomers (Weinmann, 2014). These statistics gives an
absolute advantage in terms for the labor force participation of the state compared to others,
especially when the national unemployment rates go down. On a global economy level,
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millennials currently make up 58% of the population in Asia and 25% of its workforce, 27% of
China’s population, and 29% of India’s are millennials. The United States by 2020 estimates that
by 2020, one in every three adults will be a millennial.
Human labor is considered to be an important factor for economic growth and
development (Mankiw, 2012), so is important that governments and employers improve the
competitiveness of their labor market by increasing investments in education, as well as technical
knowledge to maximize efficiency. In Minnesota, millennials are leading the top front on the
curve of increased investment in the labor force participation, which is why there are important
to the state economy and the United States economy as a whole in boosting productivity
(Weinmann, 2014). In Minnesota, the banking sector is one of the many areas where millennials
