I love how the media overreacts to everything. Here's a pretty obvious maxim: nothing is as good as it seems at its best, and nothing is as bad as it seems at its worst. To wit: the recession and slow recovery of the last couple of years are just that, a recession and slow recovery--they aren't a harbinger to the end of capitalism or conventional labor or employment. The jobs are already coming back.

Psychologically, people seem to have a basic need to do something productive with at least a good chunk of their time, and jobs do fulfill this important need. The jobs might become more abstract and more indirectly removed from everyday necessities, and hours might even drop, but I don't think they'd go away.