The formulation of the argument for the question focuses on automation and a related question on Whole Brain Emulation or other paths to Artificial General Intelligence.
The U.S. labor participation rate stood at 61.4% as of February 2021, according to the federal Bureau of Labor Statistics (BLS), which publishes updates monthly. The monthly figures have hovered around 63% since 2013, after a sharp decline in the wake of the Great Recession. In August 2020, there were 13.6 million unemployed, up 7.6 million from the 6 million in August 2019.
One of the many anticipated effects of automation is a decline in the labor force participation rate. For example, in 1850 about 76.6% of men aged 65 and older participated in the labor force. This figure is now down to 23.38%. Among other factors, this decline probably reflects a shift from work to leisure among older people as society got richer from automation.