This is the theory, but the realities of this promoting equality are really to be doubted. An increase in the supply of labour has two fairly predictable effects - it both lowers wages overall (more supply, less demand) and provides a pool of cheap workers should things pick up. When there are more unemployed there is also typically an increase in the intensity of work in the jobs that remain - people tend to work much harder for the same or less pay under the looming threat of unemployment. One prevailing myth is that the unemployed workers are simply retrained for new jobs created by automation, however even with government subsidized retraining this doesn't seem to work [1]. In reality automation seems to be a source of widespread immiseration beneficial to only a few.