First, before we start, let me say that I do not in any way, shape or form support or condone slavery or even ill-paid work. This question rationale is just for the sake of storytelling.
Let's say that Homo Florensiensis, our primitive and midget brothers, survived. They had limitations as far as brain capacity and even their larynx, as they probably didn't have the capacity to generate complex sounds. They were rather small, but as part of our Homo genus, even with their limitations, they probably possessed intelligence that was way superior to any other species in Earth, besides ours.
So, first some background from our own society and history why we wouldn't be shy in enslaving our little Hobbit brothers:
Every person that had to combine studying and working with living by yourself know those daily repetitive and menial tasks such as procuring groceries, cooking, doing your laundry, cleaning your house and so forth are really huge hindrances to someone to have even a little of that quiet time that is needed for our imagination to achieve serendipity, or even to pondering about ideas enough to reach creative conclusions. (One of the reasons why most of Western civilization inventors were single, childless White males, relatively well-to-do, and with lots of free time in their hands. Exceptions, like Einstein, needed to ask friends to come over to watch his kids for a while so he could lock himself alone in a room to solve those fundamental relativity equations)
We Homo Sapiens (especially us from Western European White ancestry) had no boundaries in doing evil to our fellow human, and under all kinds of rationalizations and justifications possible (bring them to "civilization", or "to Jesus", or just the "white man's burden" that we American and British had to "carry" to "protect" other people - in exchange for their nations natural resources or for them to not going the way of our "enemies", of course) we tortured them, enslaved them, raped them, exploited them and killed thousands of millions of them, their children, and so on.
As a side note, just remember that most of the people that provided funding to our first Western industrial revolution in the 18th century had built their fortunes through the African slave trade (while Britain controlled 90% of it by holding the monopoly to sell slaves into the Spanish and Portuguese Empires). And those that hadn't achieved that wealth through selling other humans to slavery had become indecently wealth by expelling people from their own land and building giant single owner estates for themselves, what forced those poor and landless people into the cities and to serve as ill-paid workers for the newly born industries (that had become so important themselves by destroying free-people artisan guilds through artificially lowering prices and as result taking the artisans out of business - basically what Walmart did to mom-and-pop shops here in the US in the 1990s)
Then, the rationale as a matter of conclusion:
So, there will be no moral or ethical issues that we humans cannot leave behind to bring those "poor ill-witted little fellows" to live as our house servants and do all menial jobs for us. We would probably try, at first, to use them to do heavier labor that was the property of African slaves around the world from the 16th century to the 19th century. But they wouldn't be as efficient on doing that as African slaves, as for instance in OTL, Native Americans weren't, so we would probably just use them as our "house servants".
As they probably (according to archeological studies) had shorter pregnancies than those we have, and without the resource limitations of Flores Island, they would thrive and reproduce to the millions while living in Europe, the Ottoman Empire, or in the Qing. There would be plenty of little "barely-witless" (according to the "science" of that ATL time) Hobbits around to be employed to our service.
I have some ideas of what would probably change as far as daily life, economics and society as we had plenty of a intelligent servant species to provide for us, like for instance: our little "Hobbits" would surely be cheaper than an African slave (comparative economic historical studies say that an African slave would cost around the same as a brand new tractor would cost in the 1950s in Europe and USA, so not something every little farmer could afford). As our Hobbit brothers would be more affordable, even poorer households, such as that of a tenant farmer in Prussia or Russia for example, would be able to have one or two.
But I want to hear your ideas on what would change in modern human society if we had Homo Florensiensis to work as our "servant" species and free us from household and life little chores.
Thanks in advance to anyone that takes time to answer.
One thing, please, don't take "Hobbits" under the Tolkienesque meaning of the word. I just call those Homo Florensiensis "Hobbits" because that is the nickname they were given. Thanks again.