Which of the following best describes the impact of new technology on employment?

The option that indicates new technology can both create and destroy jobs is the most accurate reflection of the complex relationship between technological advancement and employment. Historically, technological innovations often lead to increased efficiency and productivity, which can create new job opportunities in emerging sectors. For example, the rise of the internet spawned a multitude of roles, such as web development and digital marketing, that did not exist before.

Conversely, technology can also render certain jobs obsolete. Automation and artificial intelligence may replace manual or repetitive tasks, leading to job losses in specific industries. For example, manufacturing jobs have been significantly affected by robotics and automation systems that can perform tasks more quickly and with fewer errors than human workers.

This dynamic interplay illustrates that while technology can generate new employment opportunities, it can simultaneously displace existing jobs, necessitating skill development and adaptability among the workforce. Thus, the assertion that new technology can both create and destroy jobs accurately encompasses the multifaceted effects of technological change on the labor market.