I assure you it will soon become very clear that mass job losses are one of the least concerning side effects of developing the magic "everything that can plausibly been done within the constraints of physics is now possible" machine.

We're opening a can of worms which I don't think most people have the imagination to understand the horrors of.

Do you have any sources I could read to better understand your concern?

yeesh yep, though it's more Pandora's Box than a can of worms, since it can't exactly be closed once it's opened