The problem is that technology accelerating at a pace far greater than 1811, even though that was in the midst of the industrial revolution. Now, it makes perfect economic sense that automation of jobs on the cheap follows on to improving the economy, globally. However, this progress is associated with period of painful social adaptation.
The fear is not that demand for labor will decrease, but that the speed at which the labor force is upskilled will be outpaced by the progress of technology. So your factory and warehouse workers (who are already in a perilous financial situation) are unemployed, but more than that, their skills are no longer relevant. Increased demand for labor will not readily mesh with the skills of the existing workforce.
In the past, the gap has closed. But what if jobs are shed faster than their workers can transition to new ones? A scary, and not unrealistic prospect.