The U.S. and U.K. labor markets are both dominated by services jobs, and roughly the same share of workers are employed in key sectors including finance, transportation, education, manufacturing and food services.
But PwC found major differences in the nature of the work done within these sectors that explains why more U.S. jobs are at risk.
Take financial services as an example. In the U.S., 61% of jobs in the sector are at a high risk of being replaced by robots. The same is true for only 32% of finance jobs in the U.K.
John Hawksworth, PwC’s chief economist in the U.K., said that many workers in the U.S. financial sector are focused on domestic retail operations — think bank tellers in small towns.
The U.K.’s finance sector, meanwhile, is much more focused on international finance and investment banking — functions that require significantly higher levels of education and expertise.