…New Technologies = Services Jobs Replaced Agriculture Jobs … Agriculture vs. Services Jobs 25MM 20MM 15MM USA obs, 10MM J 5MM 0 1900 1910 1920 1930 Agriculture Jobs - Farming / Forestry / Fishing / Hunting Services Jobs - Business / Education / Healthcare / Retail / Government / Other Services Source: Growth & Structural Transformation – Herrendorf et al. (NBER, 2013) Services includes all non-farm jobs except goods-producing industries such as natural resources / mining, construction and manufacturing. 150