Automation does not reduce jobs. It is impossible to run out of jobs, because 1. demand is infinite 2. jobs are based on "comparative advantage", and people have comparative advantage with automation because they're the same species as their customers.
Also, this isn't even happening. It's mostly an artifact because productivity of e.g. computer manufacturing looks super efficient if you measure each 2020 computer as containing a million 1970s computers.
> Wages will continue to decline with an oversupply of labor.
This is called the "lump of labor" fallacy. Increasing the number of people increases both supply and demand, and therefore improves the economy, and therefore may raise wages.
(Economists don't simply use supply and demand for the labor market anyway, they consider things like monopsony and search models.)
Simultaneously, there are fewer jobs due to automation.
Wages will continue to decline with an oversupply of labor.